E-commerce giant Overstock’s blockchain stock sale is set to begin later this month.
Overstock announced today that Connecticut-based investment bank Source Capital Group, Inc. will serve as dealer-manager for its planned blockchain-based stock offering.
Now, the company has divulged new details. According to Overstock, the e-commerce company is planning to offer as many as 1 million shares. Each of those shares, the company said, will have preferential rights to a 1 percent cumulative annual cash dividend. The subscription period for the share offering is set to begin on 15th November.
Overstock further explained:
In statements, Byrne praised the team at Source Capital Group.
“The immediacy with which Source grasped the value of what we’re doing, from not only a business but from a historical point of view, made it clear that we’d found the right partner to take us through this offering,” he said.
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