GSI Commerce Sells 5,438 Million Common Shares
August 19, 2009 (FinancialWire) — GSI Commerce Inc. (NASDAQ: GSIC) said it has closed a public offering of common stock. The company sold 5,438,650 shares of common stock, including 1,777,500 shares of common stock purchased by the underwriters to cover overallotments.
Selling stockholders, including Softbank Capital Partners and its affiliates, sold 8,188,850 shares of common stock.
The company will not receive any proceeds from the sale of the shares by the selling stockholders. Net proceeds to GSI Commerce were around $87.9 million. The offering was priced on August 12 at $17.00 per share.
King of Prussia, Pennsylvania-based GSI Commerce is a provider of services that enable e-commerce, multichannel retailing and interactive marketing for large, business-to-consumer enterprises in the U.S. and internationally.
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