Linux vendor lowers IPO price
Published: 09 Aug 2004 11:45 BST
Lindows, the Linux desktop software company that is changing its name to Linspire, lowered on Friday the expected value of its initial public offering.
The company in July had set a price range of $9 to $11 for the 4.4 million shares it planned to sell on the public market, but on Friday, Linspire lowered that range to $7 to $9 per share, according to a filing with the Securities and Exchange Commission. That means the company expects to raise between $30.8m and $39.6m rather than $39.6m to $48.4m.
The company, which is changing its name to Linspire to settle a Microsoft lawsuit, sells a version of Linux for desktop computers. For the three months ended 31 March, 2004, the company had a net loss of $1.6m on revenue of $1m.
It's been a tough time for IPOs recently. Much-watched search engine Google has run into obstacles, while nanotechnology specialist Nanosys withdrew its IPO altogether.
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