Overstock announces pricing of its underwritten public offering

(PageOne) – Overstock announces the pricing of its previously announced underwritten public offering of 2,100,000 shares of its common stock, par value $0.0001 per share (the “Common Stock”) at a public offering price of $84.50 per share.

The size of the offering was increased from the previously announced 1,700,000 shares offered. In addition, Overstock has granted underwriters a 30-day option to purchase up to an additional 315,000 shares of the Common Stock, at the public offering price, less the underwriting discount. The offering is expected to close on August 14, 2020, subject to customary closing conditions.

Overstock anticipates that the gross proceeds from the offering will be $177,450,000, before deducting the underwriting discount and estimated offering expenses payable by Overstock. Overstock intends to use the net proceeds from the offering for general corporate purposes.

BofA Securities and Credit Suisse are acting as book-running managers of the offering. Piper Sandler, Needham & Company, D.A. Davidson & Co. and Wedbush Securities are acting as co-managers of the offering.


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