New Issue: Bluefly wraps $15 million stock placement with $10.26 million tranche

By Devika Patel

Knoxville, Tenn., March 3 - Bluefly, Inc. completed a $15 million private placement of stock with a $10.26 million second tranche on Feb. 25, according to an 8-K filed Wednesday with the Securities and Exchange Commission. It raised about $4.74 million at pricing on Dec. 21.

The company sold a total of 8,823,529 new common shares at $1.70 per share to Rho Ventures VI, LP; it sold 2,786,337 shares in the first tranche and 6,037,192 shares in the second.

Proceeds will be used for general corporate purposes.

Bluefly, based in New York, is an online clothing and accessories retailer.

Issuer:	Bluefly, Inc.
Issue:	Common stock
Amount:	$15 million
Shares:	8,823,529
Price:	$1.70
Warrants:	No
Investors:	Rho Ventures VI, LP
Pricing date:	Dec. 21
Settlement date:	Dec. 21 (for $4,736,773), Feb. 25 (for $10,263,226)
Stock symbol:	Nasdaq: BFLY
Stock price:	$2.25 at close Dec. 18
Market capitalization:	$42.7 million

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