April 24, 2018 / 2:41 PM / 3 months ago

BRIEF-Overstock.Com To Purchase Common Stock In Elio Motors

April 24 (Reuters) - Overstock.com Inc:

* OVERSTOCK.COM TO PURCHASE COMMON STOCK IN ELIO MOTORS

* OVERSTOCK.COM INC - OVERSTOCK AGREED TO BUY $2.5 MILLION OF NEWLY ISSUED SHARES OF ELIO STOCK AT $2.75 PER SHARE

* OVERSTOCK.COM - ELIO INTENDS TO USE PROCEEDS OF NEW INVESTMENT BY CO TO FUND CAPEX AND REPAY CERTAIN OUTSTANDING DEBT AND ACCOUNTS PAYABLE

* OVERSTOCK.COM INC - ELIO MOTORS ANNOUNCED IT EXPECTS TO LAUNCH A SECURITY TOKEN OFFERING TO, AMONG OTHER THINGS, FUND PRODUCTION OF ELIO VEHICLE

* OVERSTOCK.COM INC - EXPECTED THAT ELIO MOTORS’ SECURITY TOKEN OFFERING WILL INCLUDE A PRE-SALE OF ELIOCOIN Source text for Eikon: Further company coverage:

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