Sept 20 Smith Electric Vehicles Corp, which
makes emission-free electric vehicles, said it will withdraw its
initial public offering and instead pursue private financing
The company had expected to raise about $76 million at the
midpoint of its expected price range.
"We were unable to complete a transaction at a valuation or
size that would be in the best interests of our company," Chief
Executive Bryan Hansel said in a statement.
The Kansas City, Missouri-based company, which filed for the
IPO in November last year, counts Coca-Cola, FedEx Corp
and DHL among its customers.