The Register: Linuxcare files for $92m IPO

Linux support and services specialist — and one-time
supposed Red Hat acquisition — Linuxcare this week registered its
decision to IPO with the US Securities & Exchange Commission

“The scheme calls for the release of an as yet undecided number
of shares worth $92 million (which is very likely to change in the
run-up to the issue) in total. The IPO is likely to take place in
March, and Linuxcare stock will trade under the symbol ‘LXCR’.”

“The ‘details’ of the IPO come in Linuxcare’s S1 SEC filing. The
S1 also presents a good picture of what this privately owned
company has been up to since its foundation just over a year ago.
Take its finances. To 30 September 1999, the company had achieved
revenues of $518,111, which clearly did little to offset the $10.6
million it has lost.”