“Shares of Andover.Net, a network of Web sites aimed at software
developers, surged over 250 percent yesterday as investors
continued to scoop up stocks related to the renegade Linux
operating system.”
“Andover.Net, based in Acton, Mass., operates a destination of
Web sites including Slashdot.org, a must-read for the Linux and
open source software community. The company raised $72 million
after pricing four million shares at $18 a share, above the
expected price range, which was raised late last week.”
“The deal was led by W.R. Hambrecht & Co. with its
OpenIPO, or Dutch auction process, which sets the offering price to
reflect what people are willing to pay for the stock and attempts
to allocate the shares to those with the greatest desire for
them.“