(PageOne) – Overstock has just announced that it has commenced an underwritten public offering of 1,700,000 shares of its common stock, par value $0.0001 per share (the “Common Stock”).
In addition, Overstock expects to grant underwriters a 30-day option to purchase up to an additional 255,000 shares of the Common Stock, at the public offering price, less the underwriting discount.
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.