- About Us
- Nano-Social Network
- Nano Consulting
- My Account
August 8th, 2007
NanoDynamics puts IPO on hold
Blaming poor market conditions, NanoDynamics Inc. has postponed its initial public offering.
The Buffalo technology company announced earlier this summer it would offer 6.6 million common shares of its stock at a cost of $12 to $14 apiece. The goal was to raise $78.1 million, according to documents filed with the Securities and Exchange Commission.
In its S-1 filing in May, the company said it planned to use the IPO proceeds for capital equipment, to expand its manufacturing capabilities as well as for research and development and working capital.
The company said in Wednesday's announcement it would postpone the IPO, though it will continue to monitor financial markets closely to evaluate options in the best interest of its shareholders. According to the S-1 filing, over the past five years the company generated revenues of about $8.8 million, while incurring net losses of nearly $34 million.
|Related News Press|
Arrowhead Provides Response to New Minority Shareholder Announcement January 7th, 2017
Harris & Harris Group Announces a Proposed Strategic Restructuring December 20th, 2016
Research reveals novel quantum state in strange insulating materials February 14th, 2017
Particles from outer space are wreaking low-grade havoc on personal electronics February 19th, 2017
Engineers shrink microscope to dime-sized device February 17th, 2017
Scientists have discovered a new state of matter for water January 2nd, 2017
PCATDES Starts Field Testing of Photocatalytic Reactors in South East Asia December 28th, 2016