LynuxWorks Withdraws IPO
Jun 22, 2001, 15:50 (1 Talkback[s])
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Citing poor overall market conditions, embedded software company
LynuxWorks, which produces
BlueCat Linux, has withdrawn its planned IPO.
"The Company has elected not to proceed with the offering due to
general market conditions. No sales of the Company's Common Stock
have been or will be made pursuant to the S-1 Registration
Statement. The Company may undertake a private offering in reliance
on Rule 155(c) under the Act," reads
a letter the company filed with the SEC.
This represents the second relatively high profile "embedded
Linux" IPO to be withdrawn this year, after Lineo, which cancelled
its own plans in January.