Espernet.com has withdrawn its IPO. This was a disaster waiting to happen, a roll up of 43 ISPs. IMHO, the inevitable comparison would have hurt ONEM.
biz.yahoo.com
Thursday January 13, 8:15 pm Eastern Time
Espernet.com asks SEC to withdraw its planned IPO
WASHINGTON, Jan 13 (Reuters) - Espernet.com Inc., an Internet service provider, asked the Securities and Exchange Commission to withdraw its proposed initial public offering because of ``adverse market conditions.'
The company had filed on Sept. 30 to raise up to $172.5 million in an IPO but did not state the planned terms of the offering.
Espernet.com said at the time it had planned to complete the acquisition of 43 currently independent local and regional Internet service providers in conjunction with the offering.
Its letter to the SEC requesting the withdrawal of the IPO did not state what effect, if any, it would have on those acquisitions.
The company, based in New York, had not disclosed the planned terms of the offering.
E*Offering, DLJdirect Inc., and WR Hambrecht & Co. were the underwriters of the offering. |
