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Linspire - aka Lindows - cuts IPO price
Not the best climate for new issues?

By Stephen Shankland

Published: Monday 09 August 2004

Lindows, the Linux desktop software company changing its name to Linspire, has lowered the expected value of its initial public offering.

The company in July had set a price range of $9 to $11 for the 4.4 million shares it planned to sell on the public market. But on Friday, Linspire lowered that range to $7 to $9 per share, according to a filing with the Securities and Exchange Commission. That means the San Diego, Calif.-based company expects to raise between $30.8m and $39.6m rather than $39.6m and $48.4m.

The company, which is changing its name to Linspire to settle a Microsoft lawsuit, sells a version of Linux for desktop computers. For the three months ended March 31, 2004, the company had a net loss of $1.6m on revenue of $1m.

It's been a tough time for IPOs this week. Much-watched search engine Google has run into obstacles, while nanotechnology specialist Nanosys withdrew its IPO altogether.

Stephen Shankland writes for CNET News.com