trending Market Intelligence /marketintelligence/en/news-insights/trending/aRAzQpj1D9E3V8WmkR9jGQ2 content esgSubNav
In This List

Overstock.com's tZERO takes stake in Siebert Financial parent

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Podcast

Street Talk | Episode 99 - Higher rates punish bond portfolios, weigh on bank M&A

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Insight Weekly: CEO pay jumps; yield curve inversion deepens; wind giants lift turbine prices


Overstock.com's tZERO takes stake in Siebert Financial parent

Overstock.com Inc. blockchain subsidiary tZERO has agreed to take a 1% stake in Siebert Financial Corp.'s parent, Kennedy Cabot Acquisition LLC.

Upon closing, tZERO's $1.0 million investment will entitle the company to 1% of Kennedy Cabot's assets including, among other valuable assets, an approximate 90% stake in Siebert Financial.

This follows the announcement that tZERO and Siebert Financial have entered into a marketing agreement under which Siebert Financial would have access to offer deep-discount online trading to Overstock.com's customer base.

The entities earlier announced that they will roll out $2.99 trades and $1.99 trades to a new class of Overstock.com's Club O loyalty program. The product offerings are expected to be available in the first quarter of 2018.