By Sheri Kasprzak
New York, May 3 - Overstock.com, Inc. has settled a $25,000,008 direct placement of its stock.
The company sold 1,041,667 shares at $24.00 each to one investor. The price per share represents a 7% discount to the company's $25.88 closing stock price on April 28.
The shares were sold under the company's shelf registration.
The proceeds will be used for working capital, sales and marketing activities, inventory purchases and general corporate purposes.
Based in Salt Lake City, Overstock.com is an discount online retailer of books, music, movies and other products.
| Issuer: | Overstock.com, Inc.
|
| Issue: | Stock
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| Amount: | $25,000,008
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| Shares: | 1,041,667
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| Price: | $24.00
|
| Warrants: | No
|
| Settlement date: | May 2
|
| Stock symbol: | Nasdaq: OSTK
|
| Stock price: | $24.57 at close May 2
|
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