Thursday, August 2, 2007

Amedica Pulls IPO

Salt Lake City, Utah-based Amedica said Wednesday that it is pulling its initial public offering, citing market conditions for the move. The firm said it will be withdrawing its registration statement for the IPO. In a statement released by the firm yesterday, Ashok Khandkar, the firm's CEO, said that the firm does not believe it is a suitable time to continue with an IPO. Amedica was looking to raise up to $57.8M in an IPO on the Nasdaq Global Market. The IPO was being underwritten by Morgan Stanley, Jeffries & Company, and CIBC World Markets.