Rho Ventures will purchase $15 million of newly issued common stock from Bluefly Inc., an online apparel retailer.
Under the terms of the deal, Bluefly 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 received upon signing the agreement, with the remainder of the investment scheduled to be received during the first quarter of 2010.
Following the second stock purchase Rho Ventures will own approximately 33% of Bluefly
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