Overstock Issues Statement Regarding Proposed tZERO Equity Investment
Overstock.com, Inc. (OSTK)
Last overstock.com, inc. earnings: 11/12 08:00 am
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Source: GlobeNewswire
MOU signed to build strong partnership in Asia SALT LAKE CITY, March 01, 2019 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK) has released the following statement from company CEO and founder and tZERO Executive Chairman Patrick M. Byrne on the status of an equity investment from GSR Capital and Makara Capital: The previously-announced GSR equity investment in Overstock and tZERO has not been completed. However, we remain in discussions with GSR Capital and Makara Capital, a key partner of GSR Capital, regarding a potential transaction. Both have recently signed an MOU with tZERO outlining a transaction in which Makara and GSR would co-lead an investment of up to $100 million in tZERO common stock and close the transaction in April subject to due diligence, negotiation of binding contracts and regulatory approval. The investors would also assist with tZERO’s expansion in Asia and other regions of the world and link them with other key partners from their portfolios. Fol
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