Overstock.com, Inc. Follow-On Offering
8/14/2020

Davis Polk advised the representatives of the several underwriters in connection with the $204 million follow-on offering of 2,415,000 shares of common stock of Overstock.com, Inc., which includes the full exercise of the underwriters’ option to purchase additional shares from the company. The common stock is listed on the Nasdaq Global Market under the symbol “OSTK.”

Overstock is an online retailer and technology company based in Salt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, décor, rugs, bedding, home improvement and more. Overstock’s wholly owned subsidiary, Medici Ventures, is dedicated to the development and acceleration of blockchain technologies to democratize capital, eliminate middlemen and re-humanize commerce.

The Davis Polk capital markets team included partner Richard D. Truesdell Jr. and associates Rahul K. Patel, Elijah D. Jenkins and Joshua B. Pittell. Partners Byron B. Rooney, Jai R. Massari and Zachary J. Zweihorn provided advice in connection with blockchain technology. The intellectual property and technology transactions team included partner Pritesh P. Shah. The tax team included partner Michael Farber. Members of the Davis Polk deal team are based in the New York and Washington DC offices.