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.

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 powered by Disqus

Advertisement

Advertisement

Advertisement

From IR Blogs

FPO

Anna Kuzmina / E-Commerce

An introduction to online payments in Russia

Russian shoppers use a variety of domestic e-wallets quite often when shopping online, a result ...

FPO

Rebecca Kanthor / E-Commerce

An American view of China's online shopping boom

The astronomical growth of Alibaba's Taobao online shopping mall is hard to fathom from a ...

Advertisement