Ticketmaster Online-CitySearch Inc, which filed for an initial public offering of common stock last month, has indicated in a subsequent filing with the Securities and Exchange Commission that it will offer seven million shares at between $8 and $10 apiece. The company has also granted the underwriters a 30-day option to purchase up to an additional 1.05 million shares solely to cover over-allotments, if any. If the shares got away at a median price of $9, the company would be valued at roughly $625m, when it was previously thought by analysts to be worth about $700m. When the company originally filed for the IPO, it indicated that it would raise up to $92m, but did not say how many shares would be offered and at what price. It has said that $51m of the capital raised would go toward paying off outstanding convertible debt. In the latest filing, the company reported a net loss for the first nine months of 1998 of $27.1m on revenue of $11.3m. After the offering, the shares will trade on the Nasdaq National Market under the symbol TMCS.
