Lindows/Linspire Inches Closer to IPO.
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Please [ improve this article] by rewriting this article or section in an . vendor Lindows Inc is inching closer to its proposed initial public offering but is now expecting to raise between $39.6m and $48.4m, rather than the $57.5m it originally expected.
The San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. , California-based company has confirmed that it is set to change its corporate name to Linspire following the settlement of a trademark infringement Trademark infringement is a violation of the exclusive rights attaching to a trademark without the authorization of the trademark owner or any licensees (provided that such authorization was within the scope of the license). case with Microsoft Corp but is pushing ahead with the IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. after just three years in business.
Lindows/Linspire has not yet put a date on the offering but now says it will offer 4.4 million shares at between $9 and $11, raising between $39.6m and $48.4m, rather than the $57.5m it originally expected in April.
While the proposed IPO will raise less than expected, the company will have more funds available following its $20m settlement with Microsoft. Lindows intends to use some of the funds from the settlement to clear a debt of $10.4m owed to its founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Michael Robertson
Michael Robertson (born 1967) is the founder and former CEO of MP3.com. He started Lindows.com, Inc. .
The repayment of this debt was originally to be taken out of any IPO proceeds. Now the company has said it will invest between $4m and $11m in expanding sales and marketing activities, between $4m and $8m in research and development, while between $10m and $20m will be reserved for working capital, general corporate purposes and potential acquisitions.
With Lindows having only been in existence since July 2001 it is difficult for potential investors to perform analysis of its financial figures filed with the SEC. The company had revenue of $2.1m in 2003, up from just $63,131 in 2002 but managed to reduce its net loss to $4.1m for the full year ended December 31, 2003, from $6.7m in 2002.
Lindows is set to transfer to its new name of Linspire by September 14.