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Wired: Slashdot Enters Dutch IPO Oven

Sep 18, 1999, 00:03 (1 Talkback[s])
(Other stories by James Glave)

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"Slashdot is going to Wall Street and inviting the nerds along for the ride. Andover.Net, the parent company of popular open-source news and gossip community, filed initial public offering documents with the Securities and Exchange Commission on Friday."

"WR Hambrecht and Co. will underwrite the Andover.Net offering of 4 million shares. Shares are expected to sell for between $12 and $15. The exact figure will be determined through the underwriter's OpenIPO system.

That arrangement, more commonly known as a modified Dutch auction, allows interested investors to place a bid for the number of shares they want to own and the price they want to pay."

"That's a critical move for the company, because the arrangement will effectively include the thousands of programmers, developers, and tech-watchers who contribute to Slashdot."

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