According to mixed sources tighten to Overstock, a U.S. Securities and Exchange Commission (SEC) has authorized a S-3 filing for online tradesman Overstock.com (NASDAQ: OSTK) to emanate new publicly traded shares of a association on a Bitcoin blockchain.
An Overstock orator declined to criticism on a conditions though pronounced that a association would be arising a grave matter in a subsequent 48 hours.
Form S-3 is a bonds registration form that gives companies a simplified routine for arising publicly traded securities. Unlike Form S-1, that is a extensive filing compulsory for companies that devise to reason an initial open charity (IPO) of their stock, a S-3 is for companies that already have achieved a certain turn of correspondence with a Securities Exchange Act of 1934. Specifically, a association contingency have during slightest 12 months of scrupulously filed reports with a SEC to be authorised to record an S-3.
Overstock’s t0 (tee-zero) height has been operative on bringing equity trades and allotment to a blockchain given it was initial announced in Apr 2015. In July, Overstock sole a initial cryptobond on a blockchain. As a explanation of concept, FNY Managed Accounts