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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JULY 14, 1998
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CYBERCASH, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 0-27470 54-725021
(State or other jurisdiction (Commission File Number) (I.R.S. Employer)
of
incorporation or Identification No.)
organization)
2100 RESTON PARKWAY
RESTON, VIRGINIA 20191
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (703) 620-4200
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ITEM 5. OTHER EVENTS
On July 16, 1998, CyberCash, Inc. ("CyberCash") issued a press release
announcing the consummation on of a $15 million private placement with two
private equity funds. That press release is attached hereto as Exhibit 99 and is
incorporated herein by this reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS
99 Press Release
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CyberCash, Inc.
July 16, 1998 By: /s/ James J. Condon
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James J. Condon
Chief Operating Officer and
Chief Financial Officer
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INDEX TO EXHIBITS
Exhibit No. Description
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99 Press Release
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CYBERCASH, INC. THE FINANCIAL RELATIONS BOARD
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James J. Condon Marianne Stewart - General Info (212) 661-8030
Chief Operating Officer and Joel Herskovits - Analyst (212) 661-8030
Chief Financial Officer Martin Gitlin - Media (212) 661-8030
(703) 716-5208
Investor Relations
(703) 453-1119
FOR IMMEDIATE RELEASE
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July 15, 1998
CYBERCASH RAISES $15 MILLION IN EQUITY
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THROUGH PRIVATE PLACEMENT
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RESTON, VA, JULY 15, 1998 -- CyberCash, Inc. (Nasdaq: CYCH), the world leader in
secure payment technologies and services, announced today that it has raised an
additional $15 million in equity capital through the second tranche of a private
placement of convertible preferred stock and options to two private equity
funds. The Company raised $15 million from the same private equity funds, in
February 1998 through the first tranche of this private placement, as well as
$15 million in a private placement in August 1997.
CyberCash's Chief Operating Officer James Condon said, "This additional capital
will allow us to take advantage of future strategic opportunities and to finance
our network expansion and architecture upgrade. Through this equity infusion,
our investors are renewing their commitment to the CyberCash vision and are
enabling us to strengthen our position as the leading provider of electronic
payment technologies and services."
The preferred stock issued in this transaction is convertible into common stock
at a conversion price based on the market price for CyberCash stock on the
Nasdaq National Market System during a specified measurement period immediately
preceding the election to convert. The holders of the preferred stock are
subject to certain limits on the number of shares they can convert at any one
time. The Company also issued to the investors options to purchase common stock
at an exercise price based on the stock's price at the end of 1998 and at the
close of the first tranche of financing. The Company has registered for resale
the common stock underlying the preferred stock and options.
ABOUT CYBERCASH, INC.
CyberCash is the world leader in secure, convenient payment technologies
and services, enabling e-commerce across the entire market spectrum from
electronic retailing environments to the Internet.
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CyberCash provides a complete line of software products and services allowing
merchants, billers, financial institutions and consumers to conduct secure
transactions using the broadest array of popular payment forms. Credit, debit,
purchase cards, cash, checks, smart cards and alternative payment types (e.g.,
"frequent buyer" or loyalty programs) are all supported by CyberCash payment
solutions. Leading brands of CyberCash include ICVERIFY(R), PCVERIFY(TM),
CashRegister(TM), NetVERIFY(TM), CyberCoin(R) and PayNow(TM).
For financial institutions, software developers and integrators, commerce and
Internet service providers, and technology partners, CyberCash solutions are the
preferred choice, offering unmatched ease and flexibility in integrating payment
capabilities into value-added offerings to customers.
CyberCash, Inc., headquartered in Reston, Virginia, USA, maintains a global
presence with offices and joint ventures operating throughout North America,
Europe and Asia.
To receive CyberCash's latest news and corporate developments via fax at no
cost, please call 1-800-PRO-INFO. Use company code CYCH. Visit the Company's web
site at http://www.cybercash.com.
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