Solar firm BrightSource cancels IPO
BrightSource, the builder of solar thermal projects, has canceled its initial public offering on the eve of its planned debut, citing "adverse market conditions."
"While we received significant interest from potential investors, the continued market and economic volatility are not optimal conditions for an IPO," BrightSource CEO John Woolard said in a statement this evening (PDF). "As a company, we've consistently made decisions in the best interest of our shareholders, employees and customers, and we will continue to do so. Fortunately, we're in a strong financial position and have the support of world-class … Read more