November 21, 2005, 12:00 AM

Buy.com sets its IPO terms

Buy.com will sell 4.2 million shares at a range of $11 to $13 per share and use the proceeds to pay down $9 million in debt, increase its sales and marketing activity and build up its infrastructure.

Mark Brohan

Research Director

Though it still hasn’t set a date for its IPO, Buy.com is announcing terms. Buy.com, No. 33 in the Internet Retailer Top 400 Guide to Retail Web Sites, said it would sell up to 4.2 million shares at a range of $11 to $13 per share.

The terms could net Buy.com as much as $54.6 million in new working capital. The company will use the proceeds to pay down $9 million in debt, increase its sales and marketing activity and build up its infrastructure.

Buy.com Inc. increased its revenues by 16% for the first half of the year, growing to $151.3 million for the period January through June, compared to sales of $130 million for the first six months of 2004.

 

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