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To: Ken Twining who wrote (84577)	6/28/1999 12:50:00 AM
From: Paul Engel	Read Replies (1) \| Respond to of 186894

Ken - Re: "Can you give me more info. on Red Hat Software...ie. When it IPO's,estimated price, and/or stock symbol! Thanks in advance! " I think the symbol will be RHAT. Goldman-Sachs is the lead underwriter. Contact them for a prospectus. The following article should also help. Paul {==============================} techserver.com Linux vendor Red Hat announces IPO Copyright © 1999 Nando Media Copyright © 1999 Associated Press DURHAM, N.C. (June 5, 1999 2:01 p.m. EDT nandotimes.com) - Red Hat Inc., which sells Microsoft rival Linux software, said Friday it will go public with a $96.6 million stock offering. The company, which found a way to take software available free worldwide and sell packaged versions backed with technical support, said it had filed a registration statement with the Securities and Exchange Commission for the initial public offering of its common Stock. Red Hat is a leading vendor of Linux, a software code developed by Linus Torvalds in the early 1990s when he was a student in Finland. Linux is best known for being a system that rarely crashes. The company and the code began gaining notice last fall with major technology companies such as Intel, IBM, Netscape, and Oracle buying a stake in Red Hat. Microsoft officials portray Linux as nothing more than a minor rival. Windows runs about 85 percent of the world's personal computers. Goldman, Sachs & Co. will act as lead underwriter of Red Hat's IPO. Other underwriters include Thomas Weisel Partners and E*TRADE Securities Inc. The number of shares to be sold was not disclosed. It will be at least two months before the shares are priced and ready for trading, The News & Observer of Raleigh reported. Red Hat revealed in the filing that up to this point virtually all of its income has come from selling boxes of Red Hat Linux software. The company is looking at its Web site and income from services, like custom development and training, as sources of future revenue. Red Hat is close to profitability, the company said it its SEC filing. Revenues have been doubling annually and are listed as $10.7 million for 1999. Its net loss for the fiscal year, which ended Feb. 28, was $130,000. Red Hat spends about 20 percent of its revenue on research and development. Since March 1998, Red Hat's staff has grown from 36 to 130 employees. Stacy Quandt, an analyst with Giga Information Group in Santa Clara, Calif., pointed out that Red Hat will be closely watched after making the first Linux-related IPO. "This is the first of many," she said. LinuxCare and VA Linux Systems, both based in Northern California, also are IPO candidates. The single biggest chunk of the company is owned by board member Frank Batten Jr. of Norfolk, Va. Batten, chairman of the media company Landmark Communications, owns 25 percent of Red Hat. Red Hat chairman and chief executive Robert Young and Marc Ewing, co-founder and chief technology officer, own 15 percent of the company. Matthew Szulik, who joined Red Hat as its president last fall, has a 4 percent stake. Of all of the technology companies - like IBM, Netscape, Oracle and SAP - that have made highly publicized investments in Red Hat, only Intel was identified as a significant owner of the company, with a 5 percent stake. --------------------------------------------------------------------------------

To: Ken Twining who wrote (84577)	6/28/1999 11:24:00 AM
From: L. Adam Latham	Read Replies (2) \| Respond to of 186894

Ken: Re: Red Hat You can also get the S-1 filing from the SEC at sec.gov. Proposed symbol is RHAT, as Paul Engel suggested. Price and IPO date are still blank in the S-1 filing. Adam