elgato
Joined: 24 Feb 2005
Posts: 17240
Location: Texas
|
| Posted: Mon Dec 12, 2011 11:36 am Post subject: Overstock May Raise Money through Stock Sale |
|
|
Overstock registered with the SEC to issue up to $200 million in stock, warrants, or debt securities along with a prospectus, subject to completion. Unless otherwise indicated in a future prospectus supplement, the net proceeds would be used for general corporate purposes and working capital, including sales and marketing activities and inventory purchases.
"The timing and amount of our actual expenditures will be based on many factors, including cash flows from operations and the anticipated needs of our business," according to the prospectus. "As a result, unless otherwise indicated in any prospectus supplement, our management will have broad discretion to allocate the net proceeds of the offerings. Pending their ultimate use, we intend to invest the net proceeds in short-term, investment-grade, interest-bearing instruments."
http://www.auctionbytes.com/cab/abn/y11/m12/i12/s04 |
|
Jerryb
Joined: 15 Mar 2009
Posts: 444
|
| Posted: Mon Dec 12, 2011 12:56 pm Post subject: Re: Overstock May Raise Money through Stock Sale |
|
|
| average of $12 stock last two years drops to $8 recently before this anouncement. With the issue of $200,000,000 sale of new stock at this $8 or lower price the stock should drop big time. and you know if things get bad they will do it again. That could put them on the pink sheets if price drops below $5 and down. then prepare for a 10-1 reverse stock split? it takes a while for these things to happen but i've seen it happen to companies a lot that use new stock sales to pay bills and whatever at the stockholders expense. |
|
