NetSuite Inc., a software-as-a-service provider majority-owned by Larry Ellison, said in a regulatory filing Wednesday it will sell as many as 7.13 million shares in its initial public offering at between $13 and $16 apiece.

If the shares price at the top of their range, the San Mateo, Calif., company could raise as much as $114 million, assuming underwriters exercise an overallotment option to purchase up to 930,000 shares on top of the 6.2 million the company is offering.

NetSuite first filed with regulators July 2 to go public through a Dutch auction. Credit Suisse and WR Hambrecht + Co. are underwriting the offering.

Ellison, Oracle Corp.'s chief executive, owns stock representing 60% of NetSuite as of Sept. 30, according to the amended filing. After the offering, his stake will drop to 54.5%, or 54%, assuming the underwriters exercise the overallotment option. NetSuite provides supply chain and CRM resources for companies, focusing on small and midsize businesses. Citing information from research firm Gartner Inc., small and midsize companies spent $4.4 billion on such services, accounting for 32% of spending by all companies in North America. The firm projected the amount such companies would spend to increase 8.7% between 2006 and 2010, compared with the 5.7% for large companies.

Furthermore, companies preferring online on-demand options are expected to grow. NetSuite points to IDC research estimates that globally, revenues for such providers were $3.7 billion in 2006 and will grow 32% annually through 2011 to $14.8 billion.

NetSuite's main competitors include Salesforce.com Inc., Sage Group plc, Intuit Corp. and Microsoft Corp. Among risk factors related to its IPO, NetSuite pointed to the possibility of not achieving profitability. NetSuite said it lost $20.6 million on revenue of $76.8 million for the first nine months of 2007, compared with a $27.6 million loss on $47 million in revenue for the year-ago period.

The company said it plans to use proceeds to pay off debt, for capital expenses, for working capital and general corporate purposes.

NetSuite plans to apply to list on the New York Stock Exchange under the symbol N.

Jeffrey Saper and Richard Kline of Wilson Sonsini Goodrich & Rosati PC are issuers' counsel, and William Hinman of Simpson Thacher & Bartlett LLP is underwriters' counsel.