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The Register: Linuxcare significantly downgrades IPO expectations

Mar 06, 2000, 18:00 (0 Talkback[s])
(Other stories by Tony Smith)

"Linux services company Linuxcare has massively downgraded its IPO expectations - or so its latest filing with the US Securities and Exchange Commission would seem to suggest."

"The company's previous filing, which simply registered its intention to go public, set its IPO-derived fund-raising target at $92 million. But a follow-up filing made last week noted that Linuxcare expects to raise just $56.6 million."

"...the first filing doesn't have to indicate how many shares the company will offer. This time, Linuxcare said it will offer 4.5 million shares, but it's not known whether that marks a reduction in the amount of stock to put up for sale - hence the lower proceeds - or whether the company expects to make less money per share."

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