EXHIBIT 99.1
SKYMALL RAISES APPROXIMATELY $5.0 MILLION THROUGH A PRIVATE PLACEMENT
PHOENIX--(BUSINESS WIRE)--July 5, 2000--SkyMall, Inc. (Nasdaq:SKYM - news), the
branded multi-channel specialty retailer, today announced it has secured equity
funding of approximately $5.0 million through a private placement. SkyMall will
issue approximately 2.5 million shares of common stock at a price of $2 per
share in connection with the transaction. The funding will be used by SkyMall
for its working capital requirements.
Key investors in the offering include RS Investment Management of San Francisco,
Special Situations Funds, and Wand Partners, as well as all of the Company's
board members, among others. Investment advisory services were provided by
Genesis Select Corporation.
About SkyMall, Inc.
Founded in 1989, SkyMall(R) is a multi-channel specialty retailer that provides
a large selection of premium-quality products and services to consumers from a
wide variety of merchants and partners. SkyMall is best known for its in-flight
catalog, which is available on more than 70% of all domestic airlines, reaching
approximately 500 million domestic airline passengers annually. Through its
skymall.com, inc. subsidiary, which operates the skymall.com(R) and
skymalltravel.com(R) Web sites, SkyMall offers an expanded selection of products
and services to online shoppers and enables other companies to conduct
electronic commerce using skymall.com's merchant solution. SkyMall provides a
merchandise redemption program for a number of loyalty programs, allowing
consumers to purchase SkyMall merchandise with loyalty points earned in other
programs. Through Durham & Company, a SkyMall subsidiary, SkyMall offers
high-quality logo merchandise via its catalogs, workplace initiatives and the
durham.skymall.com Web site. SkyMall's subsidiary, Disc Publishing, Inc.,
produces the CD-Rom, SkyDisc(TM), which provides advertising, entertainment and
e-commerce shopping links to business travelers through airline seat pocket
distribution and the skydisc.com Web site. For further information and prior
press releases, please visit SkyMall's Web site at www.skymall.com.
This news release includes statements that may constitute forward-looking
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. This information may involve risks and
uncertainties that could cause actual results to differ materially from the
forward-looking statements. Factors that would cause or contribute to such
differences include, but are not limited to the continued functionality of the
companies' web sites and information technology infrastructure, the technical
ability to meet the demands of changing consumer needs and managing a growing
business, as well as those factors detailed by SkyMall, Inc. in its filings with
the Securities and Exchange Commission.
Note to Editors: SkyMall(R) is a registered trademark of SkyMall, Inc.;
Hilton(R) is a registered trademark of Hilton Hospitality, Inc.
Contact:
CONTACTS: SkyMall, Inc., Phoenix
Christine Aguilera, 602/528-3249
[email protected]
or
Genesis Select Corp.
Budd Zuckerman, 303/357-6565
[email protected]
