=Overstock.com (OSTK) reported earnings on Thur 9 Aug 2018 (a/h)

Overstock.com reports Q2 (Jun) results, beats on revs

• Reports Q2 (Jun) loss of $2.20 per share, may not be comparable to the single analyst estimate of ($0.82); revenues rose 11.8% year/year to $483.1 mln vs the $474.15 mln single analyst estimate.

Overstock.com announces that GSR Capital will invest up to $374.55 mln in exchange for common equity in blockchain subsidiary tZERO and common equity in Overstock.com 

• Overstock and GSR Capital have also entered into a purchase agreement pursuant to which GSR Capital will purchase $30 million in tZERO Security Tokens from Overstock.
• As part of the term sheet agreement, GSR Capital will purchase up to 3.1 million shares of OSTK common stock at a five percent discount to the closing share price on August 1, 2018. GSR Capital will also invest up to $270 million for up to 18% of tZERO's equity at a valuation of $1.5 billion (post-money). Additionally, pursuant to a purchase agreement, GSR Capital will purchase from Overstock $30 million in tZERO Security Tokens. These tZERO Security Tokens were purchased by Overstock during the recently-closed tZERO Security Token Offering in a non-cash transaction in which Overstock forgave $30 million in tZERO intra-company debt. GSR's Security Token purchase agreement replaces the GSR letter of intent previously announced on June 29, 2018.