Beyond.com <BYND.O> files to offer 4 mln shares
WASHINGTON, March 17 (Reuters) - Beyond.com Corp., an
Internet software retailer, filed on Wednesday with the
Securities and Exchange Commission for an offering of four
million common shares.
The Sunnyvale, Calif., company is selling three million
shares and stockholders, which include Chairman William
McKiernan and Vulcan Ventures, the investment vehicle of
Microsoft Corp. <MSFT.O> co-founder Paul Allen, are selling one
million shares.
Underwriters Credit Suisse First Boston, Donaldson, Lufkin
& Jenrette, BancBoston Robertson Stephens and C.E. Unterberg,
Towbin have an over-allotment option on 600,000 additional
shares.
Net proceeds will be used for general corporate purposes,
including working capital, principally sales and marketing for
brand development, potential acquisitions and debt service
payments, the company said.
It will not, however, receive any proceeds from the shares
sold by the stockholders.
Beyond.com's selling shareholders include co-founder and
Chairman McKiernan, who is offering to sell 530,887 shares. He
would beneficially own 8,465,267 shares, or 27.8 percent, of
the company after the offering, the SEC filing said.
Allen's Vulcan Ventures is offering 179,762 shares for
sale, reducing its stake in Beyond.com to 10 percent from 11.1
percent, the filing added.
Another selling shareholder is Chief Technical Officer John
Pettitt, who is offering 71,272 shares. He would beneficially
own 1,178,728 shares, or 3.9 percent, after the offering, down
from the 1,250,000 shares, or 4.4 percent, he had before it.
On Tuesday the company's stock fell $1.625 to $24.375 on
Nasdaq. |
