SUMMARY
The items in the following summary are described in more
detail later in this prospectus supplement and the accompanying
prospectus and in the information incorporated by reference in
this prospectus supplement and the accompanying prospectus. This
summary does not contain all the information you should consider
before investing in our common stock. You should carefully read
the more detailed information set out in this prospectus
supplement, the accompanying prospectus and the financial
statements and the other information incorporated by reference
in this prospectus supplement and the accompany prospectus,
especially the risks of investing in our common stock that we
discuss under the “Risk Factors” sections. References
in this prospectus supplement to “we,” “us,”
“our” the “Company” and “PFSweb”
refer to PFSweb, Inc, and its consolidated subsidiaries unless
the context requires otherwise.
Our
Business
PFSweb is an international business process outsourcing provider
of end-to-end eCommerce solutions and an online discount
retailer. We provide these solutions to major brand name
companies seeking to optimize their supply chain and to enhance
their traditional and online business channels and initiatives.
We derive our revenues from three business segments:
1) eCommerce and business process outsourcing,
2) master distribution and 3) online discount
retailing. In our eCommerce and business process outsourcing
business segment operated by our Priority Fulfillment Services
subsidiaries, we derive our revenues from a broad range of
services as we process individual business transactions on our
clients’ behalf. In our master distributor business segment
operated by our Supplies Distributors’ subsidiaries we act
as a master distributor of product for InfoPrint Solutions
Company, a joint venture company owned by Ricoh and
International Business Machines, and certain other clients.
Through our
eCOST.com®
business unit, we are also a leading multi-category online
discount retailer of new, “close-out” and recertified
brand-name merchandise.
Risk
Factors
Our business is subject to risks, as more fully described in the
section entitled “Risk Factors” immediately following
this summary beginning on
page S-2.
Corporate
Information
We are incorporated in Delaware and our headquarters are located
at 500 North Central Expressway, Plano, Texas 75074. Our
telephone number is
(972) 881-2900.
Our website is
http://www.pfsweb.com.
The information accessible through our website is not part of
this prospectus, other than the documents that we file with the
SEC that are incorporated by reference into this prospectus.
The
Offering
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Common stock offered by the Company |
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2,000,000 |
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Common stock outstanding after the offering |
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11,936,596 |
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Use of proceeds |
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We intend to use the net proceeds of this offering for general
purposes, including acquiring or investing in businesses,
products or technologies. See “Use of Proceeds.” |
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NASDQ Capital Market symbol |
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PFSW |
The number of shares of common stock to be outstanding after
this offering is based on 9,936,596 shares outstanding as
of April 30, 2010 and excludes:
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2.4 million shares of common stock subject to outstanding
options as of April 30, 2010 at a weighted average exercise
price of $4.55 per share;
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703,472 shares of common stock reserved for future grant or
issuance as of April 30, 2010 under our 2005 Employee Stock
and Incentive Plan and our Non-Employee Director Stock Option
and Retainer Plan; and
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300,000 shares of common stock subject to the underwriters’
over-allotment option.
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