This week could be called "official bear market territory" with some traders, but IPO traders might call this one the "IPO Withdraw Week." As you will see below, we had three IPO filings get formally withdrawn this week.
Initiate Systems, Inc.withdrew its planned IPO…."The initial public offering would have been a discretionary financing for the Registrant. The terms currently obtainable in the public marketplace are not sufficiently attractive to the Registrant to warrant proceeding with the initial public offering. "
Broncus Technologies, Inc. withdrew its IPO "due to current public market conditions"
Sonics also withdrew its IPO on Monday in a filing with the SEC. Here was the original filing.
Jon C. Ogg
June 27, 2008
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