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Pastimes : Crazy Fools Chasing Stocks w/5-letter Symbols Ending in F
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To: ms.smartest.person who started this subject8/16/2000 4:54:47 AM
From: ms.smartest.person  Read Replies (1) of 307
 
[ISHPF] INTERSHOP COMMUNICATIONS AG FOREIGN

Intershop sells 100,000 new shares
Cash-starved software maker raises 39 million euros
By Andrew Bulkeley, FTMarketWatch 8:47:00 AM BST Aug 16, 2000

JENA, Germany (FTMW) – Intershop Communications [DE:622700], a German online
commerce software maker, said it sold 100,000 new shares to institutional investors
as it looks for cash after canceling a Nasdaq listing earlier this year.

Intershop said it sold the shares for 39 million euros, or
390 euros each, a 4.7 percent discount to yesterday’s
409.1 euro closing share price. The company said the
new shares were part of the 435,000 created for the $200
million Nasdaq offering, which it scrapped because of
weak interest in Web-related shares.

After canceling the share sale, Intershop had only $18
million in cash and had to accept a $16 million loan from its CEO and CFO. As it worked
through that cashpile, the company said it was looking for further funds and might revive
the Nasdaq listing in September or October.

It didn’t say who bought the shares.

Intershop on Wednesday also split its shares 1-to-5 to increase liquidity and make the
shares more attractive to retail investors. While the company was founded in the former
East German town of Jena, its operational headquarters is now in San Francisco.

ftmarketwatch.com{A88CCFB0-7352-11D4-B354-0004AC647DEF}
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