Salon Internet, San Francisco, parent company of the Web site, Salon.com, filed with the Securities & Exchange Commission for an initial public offering of 2.5 million shares of common stock. The offering represents about 23% of the company; shares were initially priced at $10.50 to $13.50 each. W.R. Hambrecht & Co. and Daiwa Securities America will serve as underwriters and will have an option to purchase 375,000 additional shares. Salon will apply to trade the shares on the Nasdaq exchange under the symbol SALN.
Copyright April 1999, Crain Communications Inc.