In February, Andrew Klein's tiny Spring Street Brewing Co. became the first company cleared by the Security and Exchange Commission to sell stock on the Internet. ''The Net allows us to reach millions of people,'' says the 34-year-old former securities lawyer, who hopes to raise US$5 million through the sale of 2.7 million shares of common stock. "And it costs us only $125 per month for the hookup."
Klein may have ignited a trend among companies trying to avoid Wall Street's stiff underwriting fees. ''He's bypassing the whole brokerage community,'' says Robert Natale, Standard & Poor's research director.
Spring Street is registered in only 15 states, so, depending on where you live, you may be able to buy the beer but not the stock. Spring Street Brewing Co.: +1 (212) 226 9110, e-mail witbeer@interport.net, on the Web: www .interport.net/witbeer.
ELECTRIC WORD
Don't Ask, Don't Tell, Don't Even Look at This Poster
Home-Brew Stock Market
