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IPO Story
Nanosys Out! By Tom Taulli, Current Offerings, August 4, 2004 We have reported on Nanosys on Current Offerings in the past month and it looked like it would be a hot offering. However, according to our sources, two major institutions pulled out last minute. This was enough to make the deal dead on arrival, as today the company announced that it is withdrawing its IPO because of �market conditions.� The company is in a hot space: nanotechnology. But, the company is early stage and is a few years away from commercialization of products. Of course, the recent volatility in Nasdaq has not been helpful and the poor performance of another nanotech deal, Lumera, was also a factor cited as a reason to stay away from Nanosys. The big question is: in light of the recent events, might Google have difficulty with its own offering? At Current Offerings, the overwhelming response from our readers is that they will avoid participating in the auction. |
