To: saket chadda who wrote (1242 ) 2/4/2000 2:00:00 AM From: Susan G Read Replies (1) | Respond to of 4187
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 Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 2000, Business Wire