Lindows, the developer of Linux-based software best known for its trademark tussles with Microsoft, has begun the...
process to become a publicly traded company.
Lindows has filed a registration statement with the US Securities and Exchange Commission (SEC) for an initial public offering of its common stock. Lindows has chosen WR Hambrecht as the offering's lead manager, while Roth Capital Partners will be co-manager.
The offering's proposed maximum aggregate price is $57m. Lindows will use the money it raises to continue developing products and distribution channels, expand sales and marketing activities, increase staff and repay debt obligations of about $10.4m to company founder Michael Robertson. Robertson also serves as the company's chairman and chief executive officer.
Last week, the company changed the name of its operating system from LindowsOS to Linspire as a result of a global legal assault by Microsoft which began in late 2001. Microsoft has sued Lindows over trademark infringement in several countries over the similarity of the Lindows and Windows names.
The registration statement filed with the SEC has yet to become effective.