Skymall to Expand E-Commerce Strategies

Share this article:
Skymall Inc., Phoenix, the in-flight catalog cooperative, yesterday announced it completed a private placement of a $9.1 million equity transaction that will convert to about 1.3 million shares of its common stock for $7 per share to fund ongoing e-commerce initiatives and supplement working capital.


"This capital will help fund the e-commerce strategies that we launched to fuel our future growth plans as a specialty retailer with proprietary solutions for catalog companies and consumers," said chairman/CEO Robert M. Worsley in a statement.


Skymall also issued warrants to purchase about 652,000 shares of common stock, exercisable at $8 per share and subject to certain conditions.
Share this article:
close

Next Article in Multichannel Marketing

Sign up to our newsletters

Follow us on Twitter @dmnews

Latest Jobs:

More in Multichannel Marketing

Nielsen Allies With Pointlogic on Cross-Channel Planning

Nielsen Allies With Pointlogic on Cross-Channel Planning

Aim is to develop a "next generation" media planning tool.

If Only Engendering Loyalty Was as Easy as Clicking Your Heels

If Only Engendering Loyalty Was as Easy as ...

Rack Room Shoes combines data, research, and mobile email to deliver a high-heeled digital loyalty program.

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Introduces 'Cross-Lifecycle' Platform

Zeta Hub aims to help CMOs deliver on ROI goals by extending customer lifecycles.