June 4, 2002 -- (WhatTheyThink.com) -- According to a new filing on Monday with the SEC, Printcafe Software reduced both its offering terms and proposed valuation. The number of shares now planned to be sold is 3.75 million, but the price has been raised to $9 to $11 per share (reverse 2.2:1 split and previously priced at $7 to $9). Sources close to underwriters UBS Warburg say they plan to bring the company public this week - depending on market conditions. The new terms has Printcafe raising $35 million instead of the planned $75 million. Additionally, the cut back in shares to be offered will reduce the company’s market capitalization from nearly $200 million to $130 million. Last week, WhatTheyThink.com reported a positive trend in expenses and revenue in Printcafe’s first quarter 2002. Compared with the same period in 2001, Printcafe’s revenues were up 22.5% and operating expenses dropped 30.5%. As of March 31, 2002, the company had cash and cash equivalents of $3.678 million. Underwriters have been watching the market closely and “came very close” to pricing the IPO on different occasions in May. While sources could not guarantee that it would happen this week, they indicate that yesterday’s changes make it much more likely to occur. According to yesterday’s filing, most of the shares are accounted for. “Certain of our existing stockholders and their affiliated entities have indicated an interest in purchasing up to an aggregate of approximately 2.5 million shares of our common stock in this offering.” Printcafe plans to be listed on the Nasdaq under the symbol PCAF.