PFSweb Announces Pricing of $7 Million Common Stock Offering
25 Mai 2010 - 12:00PM
Business Wire
PFSweb, Inc. (Nasdaq:PFSW), an international business
process outsourcing services provider of end-to-end web commerce
solutions and an online discount retailer, today announced that it
has priced a public offering of 2,000,000 shares of its common
stock at $3.50 per share. PFSweb has granted the underwriters in
the offering an option to purchase up to 300,000 additional shares
of common stock at the same price per share to cover any
over-allotments. The public offering of shares is expected to close
on May 28, 2010.
Assuming no exercise of underwriter’s over-allotment option,
PFSweb expects to receive net proceeds from the offering of
approximately $6.3 million after deducting underwriting discounts
and commissions and estimated expenses of the offering. PFSweb will
use the net proceeds for general corporate purposes, including
acquiring or investing in businesses, products or technologies.
Craig-Hallum Capital Group acted as the lead underwriter for the
offering. Stonegate Securities acted as co-manager for the
offering. The offering is being made only by means of an electronic
prospectus and related prospectus supplement. Copies of the
electronic prospectus and the prospectus supplement are available
on the Securities and Exchange Commission’s website at
www.sec.gov.
This press release does not constitute an offer to sell these
securities or a solicitation of an offer to buy these securities,
nor shall there be any sale of these securities in any state or
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About PFSweb, Inc.
PFSweb develops and deploys comprehensive end-to-end eCommerce
solutions for Fortune 1000, Global 2000 and brand name companies,
including interactive marketing services, global fulfillment and
logistics and high-touch customer care. The company serves a
multitude of industries and company types, including such clients
as P&G, LEGO, AAFES, Riverbed, InfoPrint Solutions Company (a
joint venture company owned by Ricoh and International Business
Machines), Hawker Beechcraft Corp., Roots Canada Ltd. and
Xerox.
Through its wholly owned eCOST.com subsidiary, PFSweb also
serves as a leading multi-category online discount retailer of
high-quality new, "close-out" and manufacturer recertified
brand-name merchandise for consumers and small to medium size
business buyers. The eCOST.com brand markets approximately 275,000
different products from leading manufacturers such as Sony,
Hewlett-Packard, Denon, JVC, Canon, Nikon, Panasonic, Toshiba,
Microsoft, Dyson, Kitchen Aid, Braun, Black & Decker,
Cuisinart, Coleman, and Citizen primarily over the Internet and
through direct marketing.
To find out more about PFSweb, Inc. (NASDAQ: PFSW), visit the
company's websites at http://www.pfsweb.com and http://www.ecost.com.
Pfsweb (NASDAQ:PFSW)
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