BabyUniverse Inc., an online retailer of baby and maternity products, has closed on $2 million in new equity financing provided by affiliates of Wyndcrest Holdings LLC, a company controlled by BabyUniverse CEO John Textor, the retailer said today.
As part of the financing deal, BabyUniverse has issued 263,852 shares of common stock priced at $7.58 per share, a 7.5% premium over the closing price of Sept. 22, 2006, it says. The funds will be used for general corporate purposes, the company says.
BabyUniverse, No. 235 in the Internet Retailer Top 500 Guide to Retail Web Sites, in July completed a $5 million debt financing with Hercules Technology Growth Capital Inc.