BrightSource Energy Withdraws Planned IPO, Citing Difficult Market Conditions

Posted by SI Staff on April 12, 2012 No Comments
Categories : New & Noteworthy

BrightSource Energy Inc., a solar thermal technology company, says it has decided not to pursue its initial public offering (IPO) due to adverse market conditions.

The IPO was scheduled for this week. The company intends to withdraw its registration statement on Form S-1 as filed with the U.S. Securities and Exchange Commission.

‘While we received significant interest from potential investors, the continued market and economic volatility are not optimal conditions for an IPO,’ explains John Woolard, president and CEO of BrightSource Energy.

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