CyberShop.com Completes Equity Financing of $5.1 Million
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Online retailer CyberShop.com Inc. completed an equity financing round of $5.1 million involving the issuance of common stock and warrants.
Upon the mutual agreement of the company and the (unspecified) investors, the company said it has the opportunity to raise an additional $9.9 million in equity financing.
A portion of the proceeds of the financing will be used to support the company's fourth quarter advertising program and to build up inventory for the holiday shopping season.
CyberShop.com offers discounted designer and brand-name apparel, electronics, home accessories, toys, gifts and watches at closeout prices.