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Bluefly decides to launch full-scale marketing campaign
28 Jun '05
4 min read
Bluefly also sold the non-Soros investors warrants to purchase approximately 600,000 shares of common stock at any time during the next three years at an exercise price equal to $2.87 per share. The company received $7 million for the preferred stock, and an additional $75,000 for the warrants.
Assuming all outstanding equity securities, stock options and warrants of the company were converted, the stock and warrants issued in this deal would equal approximately 4.9% of Bluefly's equity, and, following the deal, the Soros funds ownership would decrease from approximately 71% to approximately 65% of the company's total equity.
The Company has agreed to file a registration statement with the Securities and Exchange Commission on behalf of the investors as soon as is practicable, in order to register the common stock underlying the preferred stock and the warrants.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless registered under the Securities Act or an applicable exemption from registration is available.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities lfer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
fer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
New York based publicly traded company Bluefly Inc founded in 1998, is a leading retailer of designer brands, fashion trends and superior value. Bluefly is headquartered at 42 West 39th Street in New York City, in the heart of the Fashion District.
Assuming all outstanding equity securities, stock options and warrants of the company were converted, the stock and warrants issued in this deal would equal approximately 4.9% of Bluefly's equity, and, following the deal, the Soros funds ownership would decrease from approximately 71% to approximately 65% of the company's total equity.
The Company has agreed to file a registration statement with the Securities and Exchange Commission on behalf of the investors as soon as is practicable, in order to register the common stock underlying the preferred stock and the warrants.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States unless registered under the Securities Act or an applicable exemption from registration is available.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities lfer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
fer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
New York based publicly traded company Bluefly Inc founded in 1998, is a leading retailer of designer brands, fashion trends and superior value. Bluefly is headquartered at 42 West 39th Street in New York City, in the heart of the Fashion District.
Bluefly Inc
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