Online retail giant Overstock filed an S-3 form for the registration of its blockchain-based digital preferred stock with the United States Securities and Exchange Commission.
The news builds on previous reports that the firm was looking to liberalize its planned digital dividend shares trading.
Investment news outlet MarketWatch reported on Sept. 24 that Jonathan Johnson, Overstock's newly appointed CEO, announced the filing in a statement earlier today.
"This filing represents an initial step in the company's registration of the OSTKO dividend, and the company is engaged in active discussions with regulatory authorities to obtain approval of the registration."
Overstock shareholders will receive one unit of the Series A-1 preferred stock for every 10 common shares of the firm.
"This dividend will be a great introduction for many to how blockchain technology can enhance the investor experience."
Overstock Files Blockchain-Based Stock Registration With SEC
Published on Sep 24, 2019
by Cointele | Published on Coinage
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