ATLANTA, Nov. 11, 2013 /PRNewswire/ -- Innotrac
Corporation (NASDAQ: INOC), in response to recent movements in its
stock price and increased trading volume, confirmed that it has
been engaged for a few weeks in discussions under an exclusivity
agreement regarding a potential transaction in which shareholders
of the Company would receive $8.20
per share. Under the terms being discussed, it is
contemplated that members of the Company's management, including
its founder and CEO, Scott D.
Dorfman, would retain a significant ownership stake in the
Company. Other than customary confidentiality and exclusivity
agreements, there is no binding agreement for a transaction, and
there can be no assurance that any such binding agreement will be
entered into. If such agreement were entered into there would be no
assurance that the conditions for closing such transaction would be
met or that the transaction would be consummated at the above
mentioned price or at all.
The Company does not intend to release further information
regarding these discussions until a binding agreement is entered
into or the discussions are terminated.
About Innotrac
Innotrac Corporation, founded in 1984
and based near Atlanta, Georgia,
is a best-in-class commerce provider integrating digital
technology, fulfillment, contact center and business intelligence
solutions to support global brands. Innotrac's fulfillment,
order management and contact center solutions are integrated with
all major web platforms, and seamlessly integrate with any required
partner technologies. The Company employs sophisticated order
processing and warehouse management technology and operates eight
fulfillment centers and one call center spanning all time zones
across the continental United States. Innotrac Europe GmbH
has a network of fulfillment centers, call centers, and returns
processing facilities with operations in the UK, Germany, France, Denmark, Sweden, Poland, Austria, Italy, Switzerland, Ireland, Spain and the
Netherlands. Connect with Innotrac at www.innotrac.com or
http://www.linkedin.com/company/innotrac.
Information contained in this press release, other than
historical information, may be considered forward-looking in
nature. Forward-looking statements in this release include
statements relating to future events and developments, as well as
management's expectations, beliefs, plans, estimates and
projections relating to the future. Forward-looking statements are
subject to various risks, uncertainties and assumptions.
Please refer to the Risk Factors discussed in Innotrac's 2012
Annual Report on Form 10-K and other filings on file with the
Securities and Exchange Commission. Innotrac disclaims any
intention or obligation to update or revise any forward-looking
statement whether as a result of new information, future events or
otherwise.
Contact
Steve Keaveney
Chief Financial Officer
678-584-4020
skeaveney@innotrac.com
SOURCE Innotrac Corporation