Liberate Technologies Inc, formerly known as Network Computer Inc, raised $100m in its initial public offering this week, after the Oracle Corp spin-off sold 6.25 million shares at $16 each. The price had been upped before the sale to $14 to $16 from a previous range of $11 to $13. The shares got a mixed reception on the Nasdaq Market, rising 27% on their first day of trading, but then slipping $1.3125 on Thursday to close at $19.0625. After the IPO, Oracle owns 48% of Liberate’s outstanding shares. The offering was underwritten by Credit Suisse First Boston, Hambrecht & Quist, and Charles Schwab & Co. Redwood Shores, California-based Liberate has 227 employees and booked a 1998 net loss of $94.4m on revenue of $10.3m.
