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 $30.8 million and $39.6 million rather than $39.6 million and $48.4 million.
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 $1.6 million on revenue of $1 million.
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.
