Overstock.com lifts convertibles repurchase program to $15 million

By Melissa Kory

Cleveland, Feb. 3 - Overstock.com, Inc. said that its board of directors authorized a $10 million increase to the previously announced convertible senior notes repurchase program.

The increase was made for the purpose of reducing the company's debt under its outstanding senior notes due Dec. 1, 2011.

With the increase, the total amount authorized for repurchase is $15 million.

The convertibles may be repurchased from time to time in open-market transactions or otherwise, subject to market conditions and other factors.

Overstock.com is a Salt Lake City-based online discount retailer.

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