NEWS Lindows, the Linux desktop software company changing its name to Linspire, has lowered 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 $30.8m and $39.6m rather than $39.6m and $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 March 31, 2004, the company had a net loss of $1.6m on revenue of $1m.
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.
Stephen Shankland writes for CNET News.com
