Overstock.com Inc. raised a gross amount of about $10.9 million through a rights offering of preferred shares, which closed Dec. 15.
A total of 695,898 shares were sold in the offering, of which 126,565 or about 18% were series A blockchain shares. As previously announced, such shares will trade on a registered alternative trading system under the new ticker symbol OSTKP, using the t0 platform that is majority-owned by Overstock unit Medici Ventures.
Meanwhile, the series B shares will trade in the over-the-counter market, with FINRA expected to assign a trading symbol for the shares on Dec. 16.
Overstock's board approved the rights offering in October.