UPDATE 1-Acclarent cancels $86.3 million IPO
NEW YORK Dec 5 (Reuters) - Acclarent Inc, a California maker of devices to treat sinusitis, withdrew its application on Friday for an initial public offering, citing "unfavorable market conditions," according to a regulatory filing.
Acclarent had filed for an $86.3 million IPO in June but becomes the 90th company to withdraw an IPO in 2008.
The company was to have used the proceeds of the deal to develop its sales and marketing efforts, and for physician training and research and development, the filing said.
The deal was to have been underwritten by JP Morgan (JPM.N) and Piper Jaffray.
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Radar showed missing plane may have turned back: Malaysia military
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Malaysian plane presumed crashed; questions over false IDs |
- Merkel raps Putin as Russian forces tighten grip on Crimea |