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Technology Stocks : TheStreet.com, Inc. (TSCM) -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Walls who wrote (52)	5/10/1999 2:19:00 PM
From: gbh	Respond to of 1822

TheStreet.com ups IPO offering price By Bloomberg News Special to CNET News.com May 10, 1999, 8:50 a.m. PT NEW YORK--TheStreet.com, the financial news Web site cofounded by hedge fund manager James Cramer, increased by 50 percent the expected price of the shares it plans to sell in an initial sale later today. The New York-based company plans to sell 5.5 million shares at $17 to $19 each, up from $11 to $13. At the midpoint of that range, the sale of the 22 percent stake would raise $99 million, up from $66 million, and give the company a market value of about $451.4 million. The increase in the expected share price reflects strong demand from investors. CBS MarketWatch.com, an online competitor of TheStreet.com, rose more than fivefold when it went public in January, one of the biggest such gains ever. "It's a pretty visible site, and I think it's going to be received very well," said Joel Krasner, an analyst with First Albany. Do you want to know more? Read related news View story in The Big Picture Go to Message Boards Search News.com The company lost $16.4 million on revenue of $4.6 million last year, compared with a loss of $5.8 million on revenue of $589,000 the year before. The company had an accumulated deficit of $12.5 million as of the end of last year. The New York Times Company invested in TheStreet.com in February and since has agreed to promote TheStreet's Web site. If TheStreet's shares are priced at the midpoint of the expected range, Cramer, 44, will have a stake worth $43 million. Cofounder Martin Peretz, editor in chief of the New Republic, will have a stake worth $38.9 million. Kevin English, 46, the chief executive, will have a stake worth $1 million, and Dave Kansas, 32, the site's editor in chief, will have a stake worth $1.8 million. TheStreet.com will trade under the symbol "TSCM" on the Nasdaq stock market. Goldman, Sachs is handling the sale, with assistance from Hambrecht & Quist and Thomas Weisel Partners. Copyright 1999, Bloomberg L.P. All Rights Reserved.