By Sheri Kasprzak
New York, Dec. 15 - Overstock.com, Inc. is getting ready to close a $40,000,644 direct placement.
Institutional investors agreed to buy 2,734,152 shares at $14.63 each.
The shares will be sold under the company's shelf registration.
WR Hambrecht & Co., LLC was the placement agent.
Proceeds will be used for marketing, inventory purchases, working capital and general corporate purposes.
Salt Lake City-based Overstock.com is an online retailer of discount, brand-name merchandise.
| Issuer: | Overstock.com, Inc.
|
| Issue: | Stock
|
| Amount: | $40,000,644
|
| Shares: | 2,734,152
|
| Price: | $14.63
|
| Warrants: | No
|
| Placement agent: | WR Hambrecht & Co., LLC
|
| Announcement date: | Dec. 15
|
| Stock symbol: | Nasdaq: OSTK
|
| Stock price: | $15.96 at close Dec. 14
|
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