Overstock.com Raises $25 Million Through Issuance of Common Stock

May 02, 2006, 01:00 ET from Overstock.com

    SALT LAKE CITY, May 2 /PRNewswire-FirstCall/ -- Overstock.com, Inc.
 (Nasdaq:   OSTK) today announced the issuance of 1,041,667 shares of its
 common stock for $25 million at a price of $24 per share. The issuance was
 made under the Company's existing shelf registration statement.
     (Logo: http://www.newscom.com/cgi-bin/prnh/20030520/LATU020LOGO-a )
     The Company anticipates using the net proceeds of the offering
 primarily for general corporate purposes and working capital requirements,
 including sales and marketing activities and inventory purchases.
     This press release does not constitute an offer to sell or the
 solicitation of an offer to buy any of the securities. A final prospectus
 supplement relating to these securities will be filed with the Securities
 and Exchange Commission.
     About Overstock.com
     Overstock.com, Inc. is an online "closeout" retailer offering discount,
 brand-name merchandise for sale over the Internet. The company offers its
 customers an opportunity to shop for bargains conveniently, while offering
 its suppliers an alternative inventory liquidation distribution channel.
 Overstock.com, headquartered in Salt Lake City, is a publicly traded
 company listed on the NASDAQ National Market System and can be found online
 at http://www.overstock.com.
     Overstock.com is a registered trademark of Overstock.com, Inc. All
 other trademarks are the property of their respective companies.
     This press release contains certain forward-looking statements within
 the meaning of Section 27A of the Securities Act of 1933 and Section 21E of
 the Securities Exchange Act of 1934. Such forward-looking statements
 include, but are not limited to, statements regarding the anticipated use
 of proceeds. An investment in Overstock.com's securities is subject to the
 risks as identified in our Form 10-K for the year ended December 31, 2005,
 and all our subsequent filings with the Securities and Exchange Commission,
 which contain and identify important factors that could cause the actual
 results to differ materially from those contained in our projections or
 forward-looking statements.

SOURCE Overstock.com