Jena, June 04, 2010 – Intershop Communications AG has successfully completed the capital increase announced on May 7, 2010. The 1,925,342 new shares account for 7.1% of subscribed capital and were issued at EUR 1.42 per share, giving the company gross proceeds of around EUR 2.7 million.
The capital increase was carried out by utilizing authorized capital with subscription rights of shareholders at a ratio of 14:1. Existing shareholders exercised subscription rights for around 1.3 million (68.6%) shares in total. As announced, the remaining shares were subscribed by the company’s strategic partner GSI Commerce, Inc.
The capital increase became effective with yesterday’s entry in the commercial register at Jena District Court. The new shares are expected to be listed for trading on the Prime Standard of Frankfurt Stock Exchange in calendar week 23.
After the capital increase, the subscribed capital of Intershop Communications AG amounts to EUR 28,951,966, divided into 28,951,966 no-par value bearer shares.
The company will use the funds generated by this capital increase for improving its e-commerce software, strengthening sales and marketing measures and financing its growth in the USA.
VEM Aktienbank, Munich, supported the company throughout the capital increase.
Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is an independent, internationally leading provider of omnichannel commerce solutions. The latter are available as cloud-based commerce-as-a-service solutions or as licensed models and combine the expertise from over 25 years of software development for online commerce. Upon request, Intershop orchestrates the entire omnichannel commerce process chain – from the design of online channels to the implementation of software to fulfillment. Around the globe more than 300 enterprise customers run Intershop solutions Customers include large corporations such as HP, BMW, Würth and Deutsche Telekom as well as medium-sized enterprises. Intershop operates in Europe, the USA and the Asia-Pacific region.
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.