Tuesday, November 18, 2008

BlueArc Drops IPO Bid

San Jose-based BlueArc said Monday in a filing with the SEC that it has withdrawn its S-1. According to the filing by BlueArc, it is withdrawing its IPO due to "current public market conditions." BlueArc had been looking to raise up to $103.5M on either the NASDAQ or NYSE. The firm's IPO was being underwritten by Credit Suisse, JPMorgan, RBC Capital Markets, Thomas Weisel Partners, and Pacific Crest Securities. BlueArc is a developer of storage systems and related software.