Note: This press release does not constitute an offer of any securities for sale. This press release has been prepared for the purpose of publicly announcing that the Company has resolved matters relating to the issuance of new shares and the secondary offering of its shares and not for the purpose of soliciting investment or engaging in any other similar activities. This press release is not an offer of securities for sale in the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "Securities Act"). The securities may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act.
TOKYO, July 2, 2013 (GLOBE NEWSWIRE) -- Internet Initiative Japan Inc. ("IIJ", the "Company", "we",) (Nasdaq:IIJI) (TSE:3774) today announces that the following resolution regarding the issuance of new shares and the secondary offering of the Company's shares in Japan was adopted at the meeting of the Board of Directors held on July 2, 2013.
We believe that growing trends of cloud computing and the outsourcing of internal information systems among Japanese corporations provides us with an enormous growth opportunity hereafter. We would like to leverage this market circumstance and accelerate our business expansion. Through this public offering, we intend to secure funds for further capital expenditure, for business investment, including in overseas businesses, to hire more employees or even to seek appropriate M&A opportunities.We plan to issue 4,700,000 shares of common stock and additional 700,000 shares by way of over-allotment. The earnings per share will be diluted by approximately 11.8% if the maximum number of 5,400,000 shares is issued. The issue price in the public offering shall be determined on a day during the period from and including Wednesday, July 10, 2013 to and including Wednesday, July 17, 2013.