elgato
Joined: 24 Feb 2005
Posts: 17240
Location: Texas
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| Posted: Fri Feb 04, 2011 1:05 pm Post subject: Overstock.com Announces Increase to Debt Repurchase Program |
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Overstock.com, Inc. (Nasdaq:OSTK - News) announced today that its board of directors has authorized an increase to the Company's previously-announced Convertible Senior Notes repurchase program. The board authorized an approximately $10 million increase to the repurchase program for the purpose of reducing the Company's indebtedness under its outstanding senior notes, which are due December 1, 2011. With the increase, the aggregate amount currently authorized for repurchase is $15 million. The Convertible Senior Notes may be repurchased from time to time in open market transactions or in privately negotiated transactions.
The Company also announced that its board of directors has formed a nominating and corporate governance committee composed of all of the independent members of the board, and has also appointed Mr. Samuel A. Mitchell as a member of the Audit and Compensation Committees. Mr. Mitchell was appointed to the board in October 2010.
more.. link to news article |
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