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 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.