Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Aztec (AZTC) Technology Partners, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: wbASSETt who wrote (170)	9/26/1999 4:38:00 PM
From: Herc	Respond to of 215

Another e-commerce competitor. <<Daisytek's PFSweb seeks $35.5 million in IPO September 23, 1999 06:38 PM WASHINGTON, Sept 23 (Reuters) - Daisytek International Corp.'s DZTK PFSweb Inc., a provider of transaction management services for traditional and electronic commerce to companies, filed Thursday to raise $35.5 million in an initial public offering. The Plano, Texas-based PFSweb plans to sell 3.1 million shares in a projected price range of $12-$14 per share, according to a Securities and Exchange Commission filing. The company offers services that include order management, customer care services, billing services, information management and distribution services to companies that include American Eagle Outfitters, Nokia Corp. NOK and Tektronix TEK . After the IPO, Daisytek will hold 82.2 percent in PFSweb, according to the filing. Also, PFSweb will have 17.4 million shares outstanding after the offering. PFSweb plans to use the funds raised in the IPO to repay debt owed to Daisytek, acquire certain assets from the company, capital spending, possible acquisitions and other general working capital. With $31.5 million in revenue during the fiscal year ending March 31, 1999, PFSweb posted $2.9 million in net income, the filing showed. The company is run by Mark Layton who has served as chairman, president and chief executive officer since the company was founded. The $35.5 million figure cited in the filing was merely a basis for calculating the SEC registration fee, the company said. It has applied to list its shares on Nasdaq under the symbol "PFSW." The underwriters, Hambrecht & Quist, Dain Rauscher Wessels, William Blair & Co. and Jefferies & Co. Inc., have been allotted 465,000 extra shares in the event of heavy demand.>>