Ritz Interactive, which operates a network of e-commerce Web sites offering digital photo equipment and boating accessories, filed papers for an initial public offering of common stock on Friday.
The offering, for which timing was not announced, will be conducted as an auction, in which the offering price and share allocation will be determined by bidding. The company said it hopes to raise up to $34.5 million from the move, which it will use to repay debt and for possible future acquisitions.
Ritz Interactive operates Web stores such as RitzCamera.com, BoatersWorld.com and ritzPIX.com.
For the six months ended June 30, Ritz Interactive earned $450,000 on net revenue of $10.8 million. During the same period in 2004, the company posted earnings of $1.2 million on $9.6 million in net revenue.
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