Here's another IPO - the cattle industry. Now before you laugh... remember when yoko ono was buying and selling prize heifers for 3/4 of a million in the 70s and 80s? The industry is huge, and why not put it online.
The Internet never ceases to amaze me.
WAYNE, Penn.--(BUSINESS WIRE)--Feb. 3, 2000--Internet Capital
Group, Inc. (NASDAQ:ICGE) today announced the initial public offering
of its Partner Company eMerge Interactive, which has been listed on
the Nasdaq Stock Exchange under the symbol "EMRG". 8,000,000 shares of
eMerge were offered at $15 per share.
eMerge Interactive, Inc. is a business-to-business e-commerce
company combining content, community and transaction services to
create an online marketplace for the cattle industry. eMerge is the
most recent Internet Capital Group Partner Company to go public.
Internet Capital Group, which acquired a $50,000,000 interest in
eMerge in November of 1999 and continues to hold a significant
interest in the company, expects to remain actively involved in the
company's management and operations.
eMerge Interactive, Inc. intends to use the net proceeds from the
offering to repay outstanding debt, to acquire additional businesses,
products and technologies, to establish joint ventures complementary
to its current business, and for general corporate purposes, including
working capital.
About Internet Capital Group
Internet Capital Group is an Internet holding company actively
engaged in business-to-business e-commerce through a network of
partner companies. It provides operational assistance, capital
support, expertise, and a strategic network of business relationships
intended to maximize the long-term market potential of more than 50
business-to-business e-commerce Partner Companies.
About eMerge Interactive
eMerge Interactive, Inc. is a business-to-business e-commerce
company combining content, community and transaction services to
create an online marketplace for the cattle industry. The company
offers its products and services to cattle industry participants
through its family of integrated web sites, its proprietary
information application and its direct sales force. Its products and
services are designed to create an efficient market for the purchase
and sale of cattle and to improve quality and productivity in the
cattle industry.
This release contains forward-looking statements that reflect
management's current views of future events and operations. These
forward-looking statements are based on assumptions, external factors,
uncertainties and other risks that are detailed in the prospectus
relating to this offering. Actual results could differ materially from
these forward-looking statements.
CONTACT: Internet Capital Group
Sherri Wolf, 617/338-7171 (Investor Relations)
or
Fleishman-Hillard
Jennifer Doidge, 415/356-1087 (Media)
doidgej@fleishman.com
KEYWORD: PENNSYLVANIA
INDUSTRY KEYWORD: INTERNET E-COMMERCE IPO
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