E-commerce payment software and services firm CyberCash Inc said Thursday that it has raised $15m through a private placement of common stock and warrants. The Reston, Virginia-based company plans to use the proceeds to fund its growth and its corporate branding campaign, as well as for acquisitions and working capital. The offering was placed through Rose Glen Capital International Investors LDC. The purchase price of the stock was $9.125, or the average closing bid price on the three days prior to the closing date of the deal. In addition, a warrant was issued to purchase 164,400 shares of stock at an initial exercise price of $11.41. CyberCash closed at $9.313 on Thursday, up $0.125.
