Friday, May 27, 2011

NewEgg Pulls IPO

City of Industry-based online electronics retailer NewEgg has pulled its IPO, the firm said in a filing with the SEC late Friday. In the filing, the firm said that it "determined not to proceed with the initial public offering" but did not give any explanation. NewEgg had filed for an IPO in September of 2009. At least two other Southern California companies have decided to pull their IPos this month, including Vista-based AutoGenomics and San Diego-based Fallbrook Technologies; two firms, Los Angeles-based Boingo Wireless and San Diego-based Active Network, both successfully reached the public markets.