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TABLE OF CONTENTS
PAGE
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Prospectus Summary.......................................... 1
Risk Factors................................................ 5
Forward-Looking Statements.................................. 13
Proposed Spin-off........................................... 14
Use of Proceeds............................................. 16
Dividend Policy............................................. 16
Capitalization.............................................. 17
Dilution.................................................... 18
Selected Combined Historical and Pro Forma Financial Data... 19
Management's Discussion and Analysis of Financial Condition
and Results of Operations................................. 22
Business.................................................... 35
Management.................................................. 44
Certain Transactions........................................ 53
Principal Stockholder....................................... 62
Description of Capital Stock................................ 62
Shares Eligible for Future Sale............................. 65
Underwriting................................................ 67
Legal Matters............................................... 69
Experts..................................................... 69
Where You Can Find More Information......................... 69
Index to Financial Statements............................... F-1
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Unless otherwise indicated, all references to "PFSweb," "we," "us" and
"our" refer to PFSweb, Inc., a Delaware corporation, and the subsidiaries of
Daisytek representing the business operations of PFSweb that will become
subsidiaries of PFSweb upon completion of this offering. All references to
"Daisytek" refer to Daisytek International Corporation, a Delaware corporation,
and its subsidiaries.
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