Overstock.com S-3 Filing Details up to $500 million of Digital Securities on the Bitcoin Blockchain
In a Form S-3 filed with the SEC on November 10, Overstock.com sought approval to issue up to $500 million in new securities "from time to time" in the form of common stock, preferred stock, depositary shares, warrants, debt securities or units. But approval of this S-3 is in not an immediate sign that Overstock is issuing any securities. "This....
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Overstock.com, the online retailer currently developing decentralized stock market Medici, has outlined how it might issue digital securities in a new Securities and Exchange Commission (SEC) filing. Submitted on 24th April, the S-3 form outlines Overstock's intention to issue new stocks or securities. The offerings, according to the company, could amount to as much as $500m. The filing also details how Overstock may seek to issue digital securities through an alternative trading system. Under a section entitled 'Risks Applicable to Digital Securities Offerings', the company states: "We....
According to multiple sources close to Overstock, the U. S. Securities and Exchange Commission (SEC) has approved a S-3 filing for online retailer Overstock.com (NASDAQ: OSTK) to issue new publicly traded shares of the company on the Bitcoin blockchain. An Overstock spokesperson declined to comment on the situation but said that the company would be issuing a formal statement in the next 48 hours. Form S-3 is a securities registration form that gives companies a simplified process for issuing publicly traded securities. Unlike Form S-1, which is the comprehensive filing required for....
Online retail marketplace Overstock.com has purchased a 25 percent stake in PRO Securities, following its earlier announcement to offer a stock that works on the Bitcoin technology. In April, the Patrick Byrne-led online retail giant had filed a prospectus with the Securities and Exchange Commission indicating that a stock offering may be in the offing using the technology behind the digital currency Bitcoin. The filing read, "We may decide to offer securities as digital securities....the ownership and transfer of which are recorded on a cryptographically-secured distributed ledger system....
The US Securities and Exchange Commission (SEC) has reportedly approved Overstock's plans to issue stock via the blockchain through its subsidiary tØ platform. According to Wired, the company was granted an amended Form S-3 - a requirement solely for companies that report under the Securities Exchange Act of 1934 - meaning that it could now issue public securities leveraging blockchain technology. It is still unclear when the company will issue its first public security on a distributed ledger but Patrick Byrne, Overstock's CEO, told Wired: "You can assume its high on our list of....
Overstock.com, one of the most visible retailers to embrace bitcoin, grabbed the interest of securities traders when it announced a blockchain-based securities platform and later won government approval to issue stocks via the blockchain. To help securities traders learn more about Overstock’s plans with its securities trading technology, Alex Pitti, a writer for Seeking Alpha, interviewed the communications director of Overstock.com. As a result of this interview, Pitti concluded he is not recommending Overstock stock since he questions Overstock CEO Patrick Byrne’s interest in the....