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Xoom.com to offer 4 million more shares

The Internet-based direct-marketing company that allows its members to build their own home pages files with the SEC to offer an additional 4 million common shares.

Xoom.com, an Internet-based direct-marketing company that allows its members to build their own home pages today announced it has filed with the Securities and Exchange Commission to offer an additional 4 million common shares.

Xoom said that half the shares will be offered by the company, while the other half will be offered by existing shareholders, with 3.4 million shares being offered in the United States and Canada.

Bear, Stearns & Company, Hambrecht & Quist, BancBoston Robertson Stephens, and Wit Capital will be the U.S. underwriters. The 600,000 shares will be offered internationally by Bear, Stears, and others.

The company also said that the selling stockholders propose to grant the U.S. underwriters an option to purchase as many as 600,000 shares of common stock to cover over-allotments, if there are any.

Xoom.com said the net proceeds will be used for general corporate purposes, including international expansion, working capital, and potential acquisition.

The stock fell 5.21 percent to 66 in early trading and has traded as high as 77 and as low as 21.13 since it went public in December.

The company will have 16.1 million shares outstanding after the offering.