Thursday, January 3, 2008

Imperium Renewables Withdraws IPO

Seattle-based biofuel producer Imperium Renewables has withdrawn the firm's IPO, saying in a filing with the SEC Thursday that was withdrawing from its IPO due to "unfavorable market conditions." Imperium was looking to IPO on the NASDAQ under the symbol "IMPR" in an IPO being underwritten by Morgan Stanley, Lehman Brothers, UBS Investment Bank, Jefferies & Company, and Piper Jaffray. The filing comes shortly after the firm's CEO, Martin Tobias, resigned from the company two weeks ago.