11/25/08

US Power Generating Company, which operates electric power generation facilities in New York City and Boston, withdrew its IPO on Tuesday citing unfavorable market conditions. While the company had not yet announced terms, Credit Suisse, Goldman Sachs, Merrill Lynch and Morgan Stanley were set to underwrite the deal.

11/20/08

Grand Canyon Education, which provides online degree programs in education, business and healthcare, priced its 10.5 million share IPO at $12, the low end of the revised $12-$14 range and 29% below the midpoint of the original $16-$18 range, on Wednesday. The deal is the first U.S. IPO since Rackspace's on August 8, breaking the longest IPO drought since the 1970s. Credit Suisse and Merrill Lynch were the lead managers on the deal. The stock is expected to begin trading on the NASDAQ under the ticker "LOPE" on Thursday.

11/19/08

Grand Canyon Education, which provides online degree programs in education, business and healthcare, cut its proposed range to $12 to $14, a -24% reduction from the midpoint of the previous range of $16 to $18. The company still plans to offer 10.5 million shares and its stock is expected to start trading Thursday on the Nasdaq under the ticker LOPE. Credit Suisse and Merill Lynch are acting as the joint lead managers on the deal.

11/17/08

BlueArc, which provides unified network storage systems to enterprise markets and data intensive markets, withdrew its IPO as a result of unfavorable market conditions. The San Jose, CA-based company had not announced terms yet. Credit Suisse and J.P. Morgan were set to be the joint book runners on the deal.

11/17/08

Venture Financial Group, a Washington state community bank focused on commercial real estate, withdrew its IPO citing unfavorable market conditions. The company had planned to offer 1.8 million shares at a range of $21 to $23. Keefe Bruyette Woods and D.A. Davidson were set to be the joint book runners on the deal.