Cross Match: Just kidding!
By Martha Entwistle
Updated Tue November 13, 2007
This seems slightly comical to me, but I guess it happens more often than you'd think. For the second time this year, Cross Match has decided not to offer its IPO right now:
PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Nov. 13, 2007--Cross Match Technologies, Inc. announced today that it has postponed the initial public offering of common shares of the company due to volatile market conditions. The company believes that current market conditions are not favorable to maximize shareholder value and will continue to monitor the financial markets.
Click on the Cross Match label below to get all my posts on this.
I'm told, incidentally, that this is not uncommon for Hambrecht, who are apparently known for doing things on the cheap and pushing the envelope on last-minute timing. Also, talking about market volatility, E*Trade got itself a taste of that, and that couldn't have helped Cross Match's confidence any.
I'll keep an eye out for other Cross Match news, but they'll probably hold off for another few months at this point. Who knows, maybe L-1 will buy them or something.
Comments