Printer Friendly

Fluidigm withdraws IPO.

New York, NY 9/22/08; South San Francisco, 9/26/08--Citing market instability, Fluidigm has withdrawn its registration statement for an IPO. Fluidigm, which develops microfluidic systems for drug development (see IBO 4/30/08), had originally planned to begin trading on September 19, but postponed the offering several times. Fluidigm had planned to raise $79.5 million in an offering of 5.3 million shares on the NASDAQ stock exchange at $14-$16 per share (see IBO 4/30/08). Underwriters included Morgan Stanley and UBS. Fluidigm President and CEO Gajus Worthington stated that, "we have decided to withdraw our S-1 statement rather than keep it pending. By doing so, we free ourselves of the communication restrictions that an active registration statement imposes."

Mr. Worthington told SFGate.com that the company was vend close to an offering and that the troubles at investors Lehman Brothers and Morgan Stanhnd did not affect the decision to withdraw the registration. (For Fluidigm's six-month results, see page 12.)

COPYRIGHT 2008 Strategic Directions International Inc. (SDI)
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Executive Briefing: News & Views for Executives
Publication:Instrument Business Outlook
Date:Sep 30, 2008
Words:166
Previous Article:Invitrogen announces post-merger structure.
Next Article:Sequenom buys clinical diagnostic lab.
Topics:

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters