Solar Co. BrightSource Shuts Off Plans For $180M IPO

Law360, New York (April 12, 2012, 5:30 PM EDT) -- Solar power company BrightSource Energy Inc. has abruptly reversed course on its plans to file for a $180 million initial public offering, according to documents filed Thursday with the U.S. Securities and Exchange Commission.

Citing adverse market conditions, the Oakland, Calif.-based company asked the SEC for permission to withdraw its plans, which originally had a $250 million target when they were filed in April of 2011.

“While we received significant interest from potential investors, the continued market and economic volatility are not optimal conditions for an...
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