May 10, 2006, 12:00 AM

Overstock.com raises $16.8 million via stock sale

The company will use the net proceeds of the offering primarily for general corporate purposes and working capital requirements.

Mark Brohan

Research Director

Overstock.com Inc. has issued 700,000 shares of its common stock for $16.8 million at a price of $24 per share. The company expects to use the net proceeds of the offering primarily for general corporate purposes and working capital requirements, including sales and marketing activities.

The company was comfortable with its cash position for 2006, but several parties made overtures regarding the placement of additional capital into the business and Overstock.com opted it would be prudent to accept, the company says. The names of the investors were not immediately available.

Overstock.com, No. 19 in the Internet Retailer Top 400 Guide to Retail Web Sites, grew sales 62.5% to $804 million in 2005 compared with $494.6 million in 2004.

Comments

Sign In to Make a Comment

Comments are moderated by Internet Retailer and can be removed.

Not a member? Signup for free today!

Advertisement

Advertisement

Advertisement

Relevant Commentary

FPO

Jason Squardo / Mobile Commerce

Five tips for achieving high mobile search rankings

Searches on mobile devices will soon exceed those on computers, Google says. Retailers that keep ...

FPO

Sergio Pereira / B2B E-Commerce

Quill turns to its B2B customers for new ideas

Coming in April is a new section of Quill.com that will let customers and Quill ...

Advertisement