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, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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