There was an IPO filing almost a year ago for Convio Inc. which would have traded under the ticker "CNVO" on NASDAQ. While the company has made several amended filings, the company has just decided to formally withdraw its application to come public. Would you dare to take a guess the reason cited? Yep, you guessed it, unfavorable market conditions.
Here is the formal verbiage:
- The Company is requesting such withdrawal because ofunfavorable market conditions that would adversely affect the offeringof the securities under the Registration Statement. The Companyconfirms that no securities have been or will be distributed, issued orsold pursuant to the Registration Statement or the prospectus containedtherein. Furthermore, there was no circulation of preliminaryprospectuses in connection with the proposed transaction and theRegistration Statement was not declared effective by the Commission.
This looks like a Freddie Mercury IPO. Another one bites the dust.
Jon C. Ogg
August 5, 2008
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