Overstock.com retires $9.5 million of convertibles

By Susanna Moon

Chicago, Oct. 24 - Overstock.com, Inc. said it completed its $20 million repurchase program, redeeming $9.5 million face value of convertible debt for $6.6 million.

On Jan. 14, the company announced the $20 million repurchase program covering its common stock and convertible senior notes.

The company previously said the repurchases are intended to compensate for dilution from outstanding options and to cut the company's debt.

Overstock.com is a Salt Lake City-based internet close-out retailer.

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