Friday, May 22, 2009

NextG Networks Abandons IPO Bid

San Jose-based NextG Networks has abandoned its bid for an IPO, according to a SEC filing by the firm Thursday. According to NextG, it is pulling its S-1, saying that it has determined not to proceed with the registration and sale of its common stock at this time. No reason for the withdrawal was given. NextG had filed for an IPO in June of 2008, looking to raised up to $150M on the Nasdaq. NextG is backed by Gabriel Venture Partners and Oak Investment Partners.