Attached files
| file | filename |
|---|---|
| 8-K - BLUEFLY INC | k176021_8-k.htm |
| EX-3.1 - BLUEFLY INC | k176021_ex3-1.htm |
| EX-10.1 - BLUEFLY INC | k176021_ex10-1.htm |
Exhibit
99.1
For Immediate
Release:
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Investor
Contacts:
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Press
Contact:
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Kara
B. Jenny
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Monica
Halpert
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|
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Chief
Financial Officer
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Director
of Content and Creative
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Bluefly,
Inc.
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212-944-8000
ext. 297
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212-
944-8000 ext. 286
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monica.halpert@bluefly.com
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kara.jenny@bluefly.com
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BLUEFLY
ANNOUNCES CLOSING OF SECOND TRANCHE OF RHO INVESTMENT
NEW YORK
– February 25, 2010 – Bluefly, Inc. (NASDAQ Capital Market: BFLY), a leading
online retailer of designer brands, fashion trends and superior value (www.bluefly.com),
today announced that it had closed the second tranche of its previously
announced $15 million investment from Rho Ventures.
Under the
terms of the deal, which was announced in December, the Company agreed to sell
$15 million of newly issued common stock at a price of $1.70 per share.
Approximately $4.7 million of the investment was closed simultaneously with the
execution of the agreement in December, and the remaining amount of
approximately $10.3 million was closed today, following the receipt of
stockholder approval (as required by Nasdaq rules). Rho Ventures now
owns approximately 33% of the Company’s shares, on a fully diluted basis, and is
the Company’s largest stockholder.
This
press release does not constitute an offer of any securities for sale. The offer
and sale of the shares of common stock issued to entities affiliated with Rho
Ventures were not registered under the Securities Act, and such shares may not
be offered or sold absent registration under the Securities Act or an applicable
exemption therefrom.
About
Bluefly, Inc.
Founded
in 1998, Bluefly, Inc. (NASDAQ Capital Market: BFLY) is a leading online
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. For more information,
please call 212-944-8000 or visit www.bluefly.com.
About
Rho Ventures
Rho
Ventures’ multi-stage investing strategy focuses on high-growth companies in
large markets that are disrupting traditional value chains. With a broad, but
strategic, sector mandate, Rho Ventures’ investments span new media, healthcare,
IT, communications, energy technology and other disruptive technologies. Rho
Ventures brings nearly 30 years of venture experience, combined with its
partners’ deep sector expertise and its far-reaching network to assist each
portfolio company in forming a unique strategy to address the specific sector
and stage. This approach has allowed Rho to participate in the growth of some of
today’s most innovative and successful companies, including Ciena, Capstone
Turbine, Compaq Computer, Gloucester Pharmaceuticals, Human Genome Sciences,
iVillage, MedImmune, Senomyx, Shire, Tacoda, Tercica, Tripod and Yantra. Rho
Ventures is currently investing from Rho Ventures VI, a $510 million fund. The
firm has offices in New York City, Palo Alto and Montreal, with investments
across the globe.