Overstock.com Reports Progress of tZERO Equity Transaction with GSR and Makara
Overstock.com, Inc. (OSTK)
Last overstock.com, inc. earnings: 11/12 08:00 am
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Source: GlobeNewswire
SALT LAKE CITY, April 18, 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 progress of the previously-announced equity investment from GSR Capital and Makara Capital: Dear Owners, I write to update you on tZERO’s negotiations with Makara and GSR Capital on the previously-announced equity investment in tZERO. Makara’s due diligence has progressed, and in the course of its due diligence Makara has proven to be a professional and serious fund. Still, the parties will not have a definitive deal in place by the mid-April target. tZERO plans to continue facilitating Makara’s diligence, but is not under any exclusivity with Makara or GSR and has retained advisors to pursue parallel alternatives. We will update shareholders after tZERO signs definitive documents. I remind shareholders of the $30 million binding tZERO security token purchase agreement betw
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