Aliso Viejo-based online retailer Buy.com Inc. has delayed its initial public offering planned for Tuesday, according to a report from Associated Press.
Underwriter Thomas Weisel Partners has not set a date for Buy.com’s offering, according to the report.
On Friday, Buy.com cut the expected price for its shares to $8 from $11 to $13,a sign investor interest hasn’t been that active.
Buy.com now is set to raise about $33 million in its offering, down from as much as $54 million. The company plans to sell nearly 4.2 million shares.
The company would have a market value of about $150 million. The shares were set to trade on Nasdaq under the “BUYY” symbol.
Buy.com went public in a big offering in 2000, but was taken private by founder Scott Blum a year later.
Proceeds are set to go toward working capital and possible acquisitions, Buy.com said in a filing.
Buy.com posted a net loss of $10 million and sales of $332 million for the nine months ended Sept. 30.
