The secondary is offiially dead. Spectrum withdrew its registration statement with SEC today, blaming poor market conditions They handled the secondary like a bunch of amateurs, hopefullly next time they will get it right. Maybe now they can get back to there real line of business. I cannot see the market pushing the shares lower on this news. Maybe an uptick is even posisble.
Tuesday November 19 8:45 AM EDT
Spectrum Signal Processing Inc. Announces Withdrawal Of U.S. Registration Statement
BURNABY, British Columbia, Nov. 19 /PRNewswire/ -- Spectrum Signal Processing Inc. (Nasdaq-NNM: SSPIF; TSE: SSY) today announced that it has withdrawn the registration statement it filed May 17, 1996 with the Securities and Exchange Commission (S.E.C.).
"After evaluating the current conditions related to the small cap new issue market, the Company has elected to withdraw its registration statement related to the intended sale of up to 2,000,000 shares and will re-examine the opportunity and its alternatives in the first half of 1997," said Barry Jinks, Spectrum President and CEO.
Spectrum Signal Processing Inc. is a specialist with broad DSP software and hardware experience in commercial, consumer and multimedia applications for customers such as Nortel, IBM and Lockheed Martin. Spectrum is publicly traded on the Nasdaq NMS under the symbol SSPIF and on the Toronto Stock Exchange under the symbol SSY. Spectrum Signal Processing is located at 100- 8525 Baxter Place, Burnaby, B.C., phone: (604) 421-5422; fax: (604) 421-1764. |
