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.
CyberShop.com’s electronics.net joint venture with Tops
Appliance City, offers consumer electronics, appliances and home office
equipment.