Overstock Announces Canadian Broker-Dealer Echelon Can Now Trade Digital Preferred Shares, OSTKO
Overstock.com (NASDAQ:OSTK) announced that Canadian investors can now trade its Series A-1 preferred shares (OSTKO) through Echelon Wealth Partners, utilizing the tZERO ATS platform. CEO Jonathan Johnson emphasized the importance of enhancing access to these shares. Echelon, a prominent Canadian wealth management firm, manages over $6 billion in assets and serves various clients across the country. Interested investors can contact Echelon for transactions related to OSTKO shares.
- Canadian investors now have access to trade OSTK's Series A-1 shares (OSTKO).
- Partnership with Echelon Wealth Partners enhances liquidity and market access.
- None.
SALT LAKE CITY, Jan. 12, 2021 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK), a leading e-commerce home furnishing retailer and advocate of blockchain technology, announced today that Canadian customers of Echelon Wealth Partners Inc. (Echelon), an independent, Canadian-owned and operated wealth management and capital markets firm, can now trade Overstock’s Series A-1 shares (OSTKO) on the alternative trading system (ATS) operated by tZERO ATS, LLC, a FINRA member broker-dealer. This is possible through broker arrangements with an existing subscriber to the ATS. In May 2020, Overstock distributed Series A-1 shares as a dividend to Overstock shareholders.
“We are working to increase access to Overstock’s preferred shares,” said Overstock Chief Executive Officer Jonathan Johnson. “I’m pleased Canadian investors now have the ability to trade our Series A-1 preferred shares through Echelon.”
Echelon is a growing firm with approximately 60 teams of investment advisors and portfolio managers and more than
Canadian investors wishing to transact in OSTKO shares should contact Echelon’s Steve Burns at sburns@echelonpartners.com. Additional information related to OSTKO can be found on Overstock’s dividend FAQ page.
About Overstock
Overstock.com, Inc. Common Stock (NASDAQ:OSTK) / Series A-1 Preferred Stock (tZERO ATS:OSTKO) / Series B Preferred Stock (OTCQX:OSTBP) is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by tens of millions of customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year founded Medici Ventures, its wholly owned subsidiary dedicated to the development and acceleration of blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the Company and other related matters on the Newsroom and Investor Relations pages on its website, Overstock.com.
O, Overstock.com, O.com, Club O, and Worldstock are registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.
About tZERO ATS
tZERO ATS, LLC is a broker-dealer registered with the SEC and a member of FINRA and SIPC. More information about tZERO ATS may be found at www.finra.org. Digital securities that trade on tZERO ATS are conventional uncertificated securities. Ownership of such securities is reflected on the traditional books and records of regulated market participants. The term "digital" refers to the blockchain technology elements of a security that are intended to enhance investor experience through added transparency. tZERO ATS, LLC is not registered with, or approved by, any Canadian securities regulatory authority and is not acting in reliance on any registration exemption in any Canadian jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding Canadian broker-dealers and investors. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 13, 2020, in our Form 10-Q for the quarter ended March 31, 2020, which was filed with the SEC on May 7, 2020, in our Form 10-Q for the quarter ended June 30, 2020, which was filed with the SEC on August 6, 2020, in our Form 10-Q for the quarter ended September 30, 2020, which was filed with the SEC on November 5, 2020, and in our subsequent filings with the SEC.
Investor Notice
Investors should note that trading digital securities could involve substantial risks, including no guarantee of returns, costs associated with selling and purchasing, no assurance of liquidity which could impact the price and ability to sell, and possible loss of principal invested. Further, an investment in a single digital security could mean a lack of diversification and, consequently, higher risk. Potential investors are urged to consult a professional adviser regarding any economic, tax, legal or other consequences of trading any securities of Overstock.com, Inc. as described herein.
No Offer, Solicitation, Investment Advice or Recommendations
This release is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, nor does it constitute an offer to provide investment advisory or other services by Overstock or any of its affiliates, subsidiaries, officers, directors or employees. No reference to any specific security constitutes a recommendation to buy, sell or hold that security or any other security. Nothing in this release shall be considered a solicitation or offer to buy or sell any security, future, option or other financial instrument or to offer or provide any investment advice or service to any person in any jurisdiction. Nothing contained in this release constitutes investment advice or offers any opinion with respect to the suitability of any security, and the views expressed in this release should not be taken as advice to buy, sell or hold any security. In preparing the information contained in this release, we have not taken into account the investment needs, objectives, and financial circumstances of any particular investor. This information has no regard to the specific investment objectives, financial situation, and particular needs of any specific recipient of this information and investments discussed may not be suitable for all investors. Any views expressed in this release by us were prepared based upon the information available to us at the time such views were written. Changed or additional information could cause such views to change. All information is subject to possible corrections. Information may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances.
| Contacts | |
| Investor Relations: Alexis Callahan 801-947-5126 ir@overstock.com | Media: Megan Herrick 801-947-3564 pr@overstock.com |
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