Tuesday, December 20, 2005

Buy.com Cuts Price, Delays IPO

Buy.com cut its initial public offering price to $8 per share, down from an initial $11-13, and has apparently delayed its IPO, according to market reports. The company, which had filed to sell 4.2M shares in an IPO, said Friday in a regulatory filing that it was changing the offering price for its shares to $8.00, down from its earlier estimates. The IPO is being underwritten by Thomas Weisel Partners and Stifel Nicolaus, with the stock approved to trade on the NASDAQ as BUYY.