Overstock.com Announces Historic Blockchain Public Offering

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Overstock.com has announced at the 41st Annual International Futures Industry Conference its plan to complete the world’s first public offering using proprietary Blockchain technology. The offering will allow Overstock.com shareholders to purchase Overstock.com Blockchain or traditional preferred stock. The Blockchain preferred stock will trade and settle exclusively through the t0.com platform and its alternative trading system (ATS).

t0.com is Overstock.com’s financial technology subsidiary and the leader in developing and deploying Blockchain-based financial products to increase efficiency and transparency in capital markets.

“This is yet another historic event — the creation of a security that will trade and settle entirely on a distributed ledger,” said Patrick M. Byrne, CEO of t0.com.

“I’ve said from the beginning that blockchain technology is going to change the world of finance forever, and we’re leading that charge.”

The offering, issued pursuant to an SEC-effective registration statement, is contemplated to be limited to Overstock.com shareholders of record as of a date to be determined, and will be of up to an aggregate of 1,000,000 shares of blockchain and traditional Series A preferred stock.

Overstock.com issued the world’s first private blockchain cryptobond in June 2015, and now plans to issue the world’s first public blockchain security on the t0.com platform.

Since its initial public offering, Overstock.com has relied on Computershare for transfer agent services; Computershare will extend its global registry and transfer agent services to Overstock.com for this offering.

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) - Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, "The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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