First Wind Nixes IPO After Slashing Price

Law360, New York (October 29, 2010, 3:27 PM EDT) -- Wind energy developer First Wind Holdings Inc. has canceled plans to raise up to $276 million in an initial public offering of its common stock after cutting its share price from a range that would have set the IPO at about $312 million.

"While we received significant interest from potential investors during the marketing of our IPO, the terms that the IPO market was seeking at this time were not attractive to the company," First Wind CEO Paul Gaynor said Thursday.

The IPO, revealed in a...
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