CyberCash raised $15 million in
equity capital through a private placement of convertible preferred stock
and options to two private equity funds. The Internet payment services
provider said it will receive a second investment of $15 million if certain
conditions are satisfied. The company also issued to its new investors, who
were not named, options to purchase common stock at an exercise price based
on the current market price and the stock market price at the end of 1998.
Short Take: CyberCash raises $15 million in private placement
CyberCash raised $15 million in equity capital through a private placement of convertible preferred stock and options to two private equity funds. The Internet payment services provider said it will receive a second investment of $15 million if certain conditions are satisfied. The company also issued to its new investors, who were not named, options to purchase common stock at an exercise price based on the current market price and the stock market price at the end of 1998.