“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 Slashdot.org, 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.”