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SecurityTokenCap

The Future of Digital Assets

Patric Byrne is not fully out of Overstock shares.

  • by SecurityTokenCap 25 Sep 2019
  • 271

As can be seen in a recent Overstock company filing on the official SEC website.  "During the period of September 16-18, 2019, High Plains Investments LLC sold an aggregate of 3,646,769 Shares and gifted an aggregate of 87,000 Shares, Dr. Byrne sold an aggregate of 1,056,690 Shares, and the Patrick Byrne Foundation Inc. sold an aggregate of 119,972 Shares." The total sale was 4,910,431 shares which approximate value was around 90 million dollars.  


However, it excludes 63,775 security tokens which approximate value is $3.5 million dollars based on the last trading data from tZero's exchange. As it says on the official SEC filing: "Dr. Byrne beneficially owns zero Shares, which represent 0.0% of the outstanding Shares, based upon the number of shares outstanding as of the most recent practicable date, and calculated in accordance with Rule 13d-3, and excluding 63,775 shares of the Issuer’s Digital Voting Series A-1 Preferred Stock (the “Series A-1 Preferred”)   

 

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