Overstock.com lifts convertibles repurchase program to $20 million

By Marisa Wong

Madison, Wis., Sept. 21 - Overstock.com, Inc. said that its board of directors authorized a $15 million increase to the company's previously announced convertible senior notes repurchase program.

The board authorized the increase for the purpose of reducing the company's debt under its outstanding senior notes due Dec. 1, 2011.

With the increase, the total amount authorized for repurchase is approximately $20 million.

The convertibles may be repurchased from time to time in open-market transactions or otherwise, subject to market conditions and other factors.

Questions may be directed to Kevin Moon, the company's director of investor relations, at 801 947-3282 or at kmoon@overstock.com.

Overstock.com is a Salt Lake City-based online discount retailer.

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