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Linux specialist lowers IPO price range

Stephen Shankland | August 7, 2004 12:46 AM PDT

Summary

First, it agreed to give up its name in a deal with Microsoft. Now Lindows is scaling back its stock market ambitions.

Topics

Stephen Shankland, Software
Lindows, the Linux desktop software company 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 San Diego, Calif.-based company expects to raise between $30.8 million and $39.6 million rather than $39.6 million and $48.4 million.

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 March 31, 2004, the company had a net loss of $1.6 million on revenue of $1 million.

It's been a tough time for IPOs this week. Much-watched search engine Google has run into obstacles, while nanotechnology specialist Nanosys withdrew its IPO altogether.

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