Outdoor financials: GSI: Stock offering expected from former shareholders of recent acquisition

GSI Commerce, a provider of e-commerce and digital-marketing services to retailers and manufacturers, said former shareholders of Retail Convergence are going to sell a little more than 2.1 million shares of its stock in a registered underwritten offering.
Author:
Updated:
Original:

GSI: Stock offering expected from former shareholders of recent acquisition

GSI Commerce (Nasdaq: GSIC), a provider of e-commerce and digital-marketing services to retailers and manufacturers, said former shareholders of Retail Convergence are going to sell a little more than 2.1 million shares of its stock in a registered underwritten offering.

GSI bought Retail Convergence last month for $180 million in cash and stock at closing and up to $170 million more, depending on how Retail Convergence’s web sites do under GSI’s ownership.

The offering is expected to occur by Dec. 11. GSI said it wouldn’t receive any money from the offering, and the number of shares it has outstanding won’t change.

The former Retail Convergence shareholders have already sold 1 million shares of GSI stock to a private equity fund.

--Compiled by Wendy Geister

For more information about any public company on this page or its financial reports, as well as to view stock prices updated every 15 minutes, visit the SNEWS® Stock Market Updates. Click on: www.snewsnet.com/cgi-bin/snews/stock_report.html.

Related

Fitness financials: Nautilus garners $12.3 million for various commercial assets, plus GSI Commerce

Nautilus garners $12.3 million for various commercial assets Nautilus (NYSE: NLS) said it is selling select assets of its commercial business to Fit Dragon International Ltd. for $12.3 million. The company’s plan is to focus exclusively on its direct and retail division. The ...read more

Fitness financials: GSI Commerce's stock offering fetches $87.9 million, plus Foot Locker

GSI Commerce's stock offering fetches $87.9 million GSI Commerce (Nasdaq: GSIC), an operator of retail websites, said its common stock offering generated net proceeds of $87.9 million, which it plans to use for working capital and general corporate purposes, including possible ...read more

Fitness financials: Analysts estimate 'healthy lifestyle' stocks will fall in '09, plus Nautilus, GSI Commerce

Analysts estimate 'healthy lifestyle' stocks will fall in '09 Although health and exercise clubs usually benefit from New Year's resolutions, analysts predict that economic stress will hamper the growth of companies like Life Time Fitness (NYSE: LTM) and Town Sports (Nasdaq: ...read more

Fitness financials: Analyst expects Under Armour to gain from products in '08, plus Collective Brands-adidas, GSI

Analyst expects Under Armour to gain from products in '08 Despite a weak U.S. economy that has hurt business for many retailers, Under Armour (NYSE: UA) is poised to gain from better products and pricing, an analyst said. After meeting with senior management recently, Stifel ...read more

Fitness financials: Nautilus terminates shareholder rights plan, plus Town Sports, GSI, Finish Line, Sears

Nautilus terminates shareholder rights plan Nautilus (NYSE: NLS) said it amended its shareholder rights plan to effectively terminate it. Under the plan, if any person or group acquired 20 percent or more of the voting power of Nautilus' outstanding common stock without the ...read more

Outdoor financials: VF says '05 guidance on track, releases '06 expectations, plus Wolverine, Quiksilver, Kellwood, Wellman, Reebok, Outdoor Channel, LaCrosse, GSI

VF says '05 guidance on track, releases '06 expectationsVF Corp. (NYSE: VFC), parent of The North Face, JanSport and Eastpak, reaffirmed its guidance for 2005, saying sales will rise 5 percent to 6 percent, and that it anticipates sales growth of about 4 percent to 5 percent in ...read more

Outdoor financials: GSI expands credit facility

GSI expands credit facility GSI Commerce (Nasdaq: GSIC), a provider of e-commerce services, said it expanded its credit facility by $60 million to $150 million. The deal included “renewed and increased commitments from its existing bank group as well as the addition of new bank ...read more

Fitness financials: Bally readies for bankruptcy, deals with shareholder opposition to plan, plus Amer Sports, Nike, Everlast, Crocs, Under Armour, GSI

Bally readies for bankruptcy, deals with shareholder opposition to planBally Total Fitness Holding (Pink Sheets: BFTH) has been paving the way for its impending Chapter 11 bankruptcy filing, while various senior managers have been selling shares and majority shareholders have ...read more

Outdoor financials: Jarden swings to profit in Q4, FY ’09, plus Spyder sells Cloudveil, Cabela’s, GSI Commerce

Jarden swings to profit in Q4, FY ‘09 After a steep year-ago loss, Jarden (NYSE: JAH), parent of Coleman, K2 and Marmot, swung to a profit for the fourth quarter. It also noted that it expects sales growth in each of its units in 2010. For the quarter ended Dec. 31, net income ...read more