Buy.com Files for IPO28 Jan, 2005 By: Holly J. Wagner
Buy.com, which calls itself the “Internet superstore,” has filed a registration statement with the Securities and Exchange Commission (SEC) for a proposed initial public offering of stock, although the number of shares to be offered and the price range of the proposed offering have yet to be determined.
The company will trade under the symbol BUYY and seeks to raise up to $83.2 million with the IPO.
The offering isn't really Buy.com's initial IPO. The company went public and its stock rose to $37.50 in 2000, but as the company continued losing money, it dot-bombed. Founder Scott Blum bought it back at 17 cents per share and took it private in November 2001, when it was facing delisting from NASDAQ.
The shares in the proposed offering will be sold by the company, and any shares sold pursuant to the exercise of an overallotment option will be sold by the company's principal stockholder.
RBC Capital Markets Corp., Thomas Weisel Partners LLC and Pacific Crest Securities Inc. will act as managing underwriters of the proposed offering, which will be made only by prospectus.
Once they become available, copies of the preliminary prospectus relating to the proposed offering may be obtained from RBC Capital Markets Corp. at Two Embarcadero Center, Suite 1200, San Francisco, CA 94111.