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Technology Stocks : Drugstore.com Inc - (Nasdaq : DSCM )

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To: Mohan Marette who wrote ()6/28/1999 7:27:00 PM
From: Mohan Marette  Read Replies (1) of 132
 
drugstore.com sets IPO at five mln common

WASHINGTON, June 28 (Reuters) - Online pharmacy drugstore.com inc. said Monday it will offer up to five million common shares in its initial stock sale to the public.

In an amended initial public offering filed with the Securities and Exchange Commission, the Bellevue, Wash.,-based company estimated the initial stock price will be between $9 and $11 per share.

Previously, the company did not disclose the amount of stock to be offered nor the estimated initial selling price.

The company has applied to trade on Nasdaq under the stock symbol (Nasdaq:DSCM - news).

The offering will be made through Morgan Stanley Dean Witter, Donaldson Lufkin & Jenrette and Thomas Weisel Partners LLC.

Net proceeds will be used for general corporate purposes, including working capital and capital expenditures.

After the offering, outstanding common will total 42,791,000 shares.
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