Overstock Announces Trading Schedule for Blockchain Trades. | dinbits


Overstock announced an official "Rights Offering" on shares to be traded on the t0 platform. Stockholders will be given right to purchase shares of its preferred stock to be issued and traded exclusively on a registered alternative trading system using the t0 issuance and trading platform developed by Overstock’s majority-owned financial technology subsidiary t0 (tee-zero).

They are calling the share Blockchain Series A Preferred, which will trade exclusively on the platform.

“This is the culmination of over two years of true innovation and hard work,” said Overstock CEO Patrick M. Byrne. “Through this public issuance of blockchain-based securities the history of capital markets is entering a new era, the era of blockchain-based securities.”

Schedule

According to the announcement, the offerings schedule:


Monday, November 7, 2016Ownership Day; must own OSTK common stock by 4:00 PM ET to become a stockholder of record on the Record Date.
Tuesday, November 8, 2016Shares trade Ex-Right
Thursday, November 10, 2016Record Date
Monday, November 14, 2016Announcement of Maximum Price
Tuesday, November 15, 2016Subscription Period Begins
Tuesday, December 6, 2016Subscription Period expires at 5:00 PM ET and Final Price is determined.




You can discover more about Overstock and t0 at their respective web addresses. Read the full Overstock announcement here.




Algei

Image source: dinbits staff

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