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THE OFFERING
Common stock offered by
PFSweb.......................... 3,100,000 shares
Common stock to be outstanding
after the offering.............. 17,405,000 shares
Use of proceeds................. - to repay an intercompany payable to
Daisytek ($22.3 million as of September 30,
1999);
- to acquire certain assets from Daisytek of
approximately $5.4 million;
- for presently anticipated capital
expenditures of $7-$10 million, a portion
of which we may finance through capital or
operating leases; and
- the balance of the proceeds for general
working capital and possible acquisitions.
See "Use of Proceeds."
Proposed Nasdaq National Market
symbol........................ "PFSW"
Unless otherwise noted, the information in this prospectus assumes the
underwriters do not exercise their option to purchase an additional 465,000
shares of common stock from us to cover over-allotments. The number of
outstanding shares used in this prospectus is 17,405,000 and excludes 1,376,500
shares of common stock issuable upon exercise of outstanding options and
4,623,500 shares of common stock available for the future grant of stock options
under our stock option plans.
FISCAL YEAR
Our fiscal year and Daisytek's fiscal year ends on March 31 of each year.
All references to fiscal years in this prospectus refer to the fiscal years
ending in the indicated calendar years. For example, "fiscal 1999" refers to the
fiscal year ended March 31, 1999.
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