Oakland-Based BrightSource Pulls Plans for Initial Public Offering

Oakland -- BrightSource, an Oakland-based clean technology startup developing solar power plants, late Wednesday withdrew plans for its proposed initial public offering, just hours before it was expected to price the IPO. In a filing with the Securities and Exchange Commission (SEC), the company said it decided to pull the offering "in light of current market conditions." BrightSource first announced plans for the IPO nearly a year ago, and more recently said it expected to price shares at $21-$23 each. "While we received significant interest from potential investors, the continued market and economic volatility are not optimal conditions for an IPO," said John Woolard, the company's president and CEO. "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."
http://www.brightsourceenergy.com/
http://www.sec.gov/Archives/edgar/data/1471443/000119312512159644/d173853drw.htm
http://www.brightsourceenergy.com/images/uploads/press_releases/BrightSource_S1_Announcement_Final.pdf (PDF)