×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: US | Nexsan | IPO | Delay

Nexsan IPO Postponed Due to 'Market Conditions'

Friday, 09 April 2010 11:21 AM EDT

Digital storage company Nexsan Corp. postponed its $55 million initial public offering, according to its underwriter Thomas Weisel Friday, because of "market conditions."

While the IPO market hit some bumps earlier this year because of turbulent stock markets, there have recently been some successful offerings from technology and financial companies.

On Thursday night, metals processor Metals USA Holdings Corp. raised about $239.4 million after pricing shares above the expected range and increasing the number of shares it planned to sell. It is expected to start trading Friday on the New York Stock Exchange.

Nexsan had hoped to raise about $55 million this week.

The Thousand Oaks, Calif., company makes disk-based storage systems that hold digital information such as e-mail, documents and digital video recordings. It provides storage services for mid-sized businesses and smaller offices of big corporations — markets which Nexsan said have been underserved by other major computer storage providers.

Keith Lister, head of Thomas Weisel's syndicate desk, did not comment on when the company expected to go public.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


InvestingAnalysis
Digital storage company Nexsan Corp. postponed its $55 million initial public offering, according to its underwriter Thomas Weisel Friday, because of market conditions. While the IPO market hit some bumps earlier this year because of turbulent stock markets, there have...
US,Nexsan,IPO,Delay
169
2010-21-09
Friday, 09 April 2010 11:21 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved