Jena, 7 May 2018 – The Management Board of INTERSHOP Communications AG (ISIN: DE000A0EPUH1) today decided, with the consent of the Supervisory Board, to use the authorized capital to increase the company’s share capital against cash contributions by close to 10% of the existing share capital. The share capital is increased from EUR 31,683,484 to EUR 34,851,831 by issuing 3,168,347 new bearer shares against cash contributions in an ex-rights issue. The new shares were issued at a price of EUR 1.62 and are entitled to profit as of 1 January 2018. The total issue proceeds before costs amount to approximately EUR 5.133 million.
The new shares were subscribed by three institutional investors, AXXION S.A. for several fund mandates, Shareholder Value Beteiligungen AG and Shareholder Value Management AG. Following the entry in the commercial register, the new shares are to be admitted to trading in the regulated market (Prime Standard) of the Frankfurt Stock Exchange without prospectus and be included in the current listing.
Intershop will use the proceeds from the capital increase to accelerate the company’s transformation towards the cloud business.
Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is the leading independent provider of omni-channel commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing up to fulfillment. Around the globe more than 300 enterprise customers, including HP, BMW, Würth, and Deutsche Telekom run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, Australia, and China. More information about Intershop can be found online at www.intershop.com.
This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.