Overstock Launches Public Offering

Overstock.com has announced that it intends to offer four million shares of its common stock in an underwritten public offering.

The company stated that it also expects to grant to the underwriters a 30-day option to purchase up to 600,000 additional shares of its common stock as part of the offering. Overstock will offer and sell all of the shares. The offering is subject to the usual conditions, the company noted.

At the end of the last completed fiscal year, Overstock had about 25,000 common shares outstanding, according to the company.