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by Diane Himes, MA Editorial Staff
Posted on Tuesday, August 08, 2006 6:32:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox   RFID vendor Alien Technology (Morgan Hill, CA) has withdrawn its recently filed registration statement for an initial public offering of approximately $120 million worth of common stock. An Alien spokesperson told Managing Automation that the company decided to abandon its IPO filed in April because of the "widely reported" depressed market for new securities offerings across all industries. Instead, the company will seek additional private funding. The spokesperson declined to be more specific, citing a 30-day quiet period prescribed by the Securities and Exchange Commission. Alien's revised financing path, she added, will not affect the RFID reader and tag maker's plans for product-related announcements scheduled for later in the year. It will, however, necessitate some belt tightening. [Click to continue]  |
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