In an amended filing with the Securities &Exchange Commission, Barnes &Noble and Bertelsmann said they will offer approximately 18%, or 25 million shares, of barnesandnoble.com through the online retailer's upcoming IPO. The shares will be priced at an estimated $12 per share, for a total offering of $300 million; in its initial filing the companies expected to raise $200 million (News, Mar. 29).
In the amended filing, barnesandnoble.com reported first-quarter sales of $32.3 million, a 259% increase over sales in last year's comparable period. The loss in the quarter was $20.2 million. The company said it had added 450,000 new customers in the period, bringing the total to 1.7 million.
In a personnel move, Marie Toulantis, formerly chief financial officer for B&N, has been named to the same post at the online retailer. She will report to Jonathan Bulkeley, barnesandnoble.com's CEO. Toulantis's responsibilities at B&N will be divided between Darrell Meussner, v-p and CFO of the company's retail and distribution divisions, and Michael Archbold, v-p and controller.
