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The Register: Linuxcare significantly downgrades IPO expectations

“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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