And the Annapolis, Md, company anticipated that they might sell in the $16-$18 per share range, according to its amended IPO filing with the Securities and Exchange Commission.

The company previously said in a March 23 filing it planned to offer 5 million shares in the $11-$13 range.

The underwriters, which include Credit Suisse First Boston, Bear Stearns and BT Alex Brown, now have an option to purchase 900,000 additional shares to cover over-allotments, instead of a previous option to buy 750,000 more shares.

The stock has been approved for listing on Nasdaq under the symbol USIX.

Net proceeds were to be used for continued expansion and enhancement of network and facilities, payment of preferred stock dividends, working capital and other general corporate purposes, the filing said.

Thecompany will have 38,868,276 shares outstanding after the offering.

USInternetworking, which began operating in January 1998, reported an operating loss, before interest, of about $30.1 million from its inception through December 31, and net cash outflow, before financing, of about $58.3 million, the filing said.

The company's service offerings integrate leading packaged software applications with back-up, security and operational support to meet the needs of middle-market companies for use in sales force automation, customer support, E-commerce and financial management.