Lindows, Inc. IPO

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Lindows, Inc. has filed with the SEC for a public offering on 2003 revenues of $2 million and losses of $4 million. The filing states that the company will be pursuing a non-traditional IPO.

OpenIPO�: The method of distribution being used by the underwriters in this offering differs somewhat from that traditionally employed in firm commitment underwritten public offerings. In particular, the public offering price and allocation of shares will be determined primarily by an auction process conducted by the underwriters and other securities dealers participating in this offering. A more detailed description of this process, known as an OpenIPO, is included in �Plan of Distribution� beginning on page 84.

The CEO is Michael Robertson of MP3.com fame. Lindows has agreed after two years of legal fighting with Microsoft to change the name of its Linux-based operating system to Linspire.

The number of Linspire users is increasing steadily, and the international penetration looks promising. Some new computers are being sold with the Linspire OS for as little as $200, for example, in Mexico.

It will be fun to watch this IPO to see if it actually makes it out.

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