Stockholders will also have an opportunity to subscribe for an alternative series of its voting preferred stock, which will be economically identical to the Blockchain shares but will trade in the over-the-counter market. Overstock.com will offer one million of its preferred shares for sale to stockholders on its t0 issuance and trading platform, in a demonstration of the blockchain-based system's functionality. The company said it plans to use this new offering as an opportunity to raise capital through additional public offerings (IPOs) that are expected to be launched over the next few months. Overstock CEO Patrick M Byrne said: "the history of capital markets is entering a new era, the era of blockchain-based securities."
Overstock.com will offer one million of its preferred shares for sale to stockholders on its t0 issuance and trading platform, in a demonstration of the blockchain-based system's functionality. The company said it plans to use this new offering as an opportunity to raise capital through additional public offerings (IPOs) that are expected to be launched over the next few months. Overstock CEO Patrick M Byrne said: "the history of capital markets is entering a new era, the era of blockchain-based securities."