Share Price Cut for WebSideStory IPO

Underwriters for WebSideStory Inc., which measures website activity for companies, Wednesday cut the estimated price range for the company’s pending initial public offering to $8 to $9 a share from $10 to $12 a share.

According to an amended filing with the Securities and Exchange Commission, the size of the offering will remain at 5 million shares, including 600,000 shares being sold by current stockholders.

In October 2000, the San Diego-based company withdrew a previous IPO of 3 million shares, citing market conditions.

The price range for that issue was $13 to $15 a share.

For the six months ended June 30, WebSideStory reported a net loss of $542,000, compared with a loss of $2.5 million a year earlier.

The company’s major shareholders after the offering will include Summit Partners, with a 15% stake, and private equity firm TA Associates Inc., also with a 15% stake.

WebSideStory’s common shares have has been approved for quotation on Nasdaq under the symbol WSSI.