SiliconBeat

NetSuite, the San Mateo software company whose much-awaited initial public offering is generating so much buzz that the IPO’s price range has been raised two times in two days, made a filing today with the SEC to “update or correct some of the facts stated” in an article about it published Tuesday in the New York Times, the text of which is included in its filing.

Since the article ran, which reported an increase in the IP0’s price range on Tuesday to
$16 to $19 from $13 to $16, the range was raised again on Wednesday to $19 to $22 per share, according to the company’s sixth amendment to its initial IPO filing. The shares are being sold according to an auction method similar to the way Google shares were first offered to the public.

The Times article, by a former Mercury News colleague, Laurie J. Flynn, also said that in a Dutch auction the “share price is based on the highest bid that ensures that all” shares will be sold. The company pointed out, however, that NetSuite and the underwriters have “discretion to set the initial public offering price below the auction clearing price.”

As for corrections, NetSuite said in its filing that the article, “incorrectly states that
NetSuite’s net loss for the first nine months of 2006 was $26.9 million, rather than $27.6
million, as set forth in the preliminary prospectus.” And this: “The article states that
[chief executive] Zachary Nelson joined NetSuite in 2000, instead of 2002, as set forth in the preliminary
prospectus.”

Glad they cleared that up.

In its amended filing Wednesday, the company also corrected some its own handiwork, updating the percentage of stock owned by its largest shareholder, Larry Ellison, as of Sept. 30 to 61 percent from 60 percent. For Ellison, every little bit counts.