Alien Technology Corp. (Morgan Hill, Calif.) announced that the company has withdrawn its registration statement on Form S-1 with the Securities and Exchange Commission and has determined not to proceed with the registration and sale of its common stock at this time. No shares of the Company's common stock have been sold pursuant to the registration statement. The Company may undertake a subsequent private offering of securities in reliance on Rule 155(c) of the Securities Act.
"Alien has decided not to proceed with an IPO at this time due to market conditions," said Stav Prodromou, CEO, Alien Technology. "While we are evaluating the options for our future financing needs, we are taking prudent cost reduction actions to continue to effectively manage and grow our business and support our customers going forward."
Alien was founded in l994. The company's facilities include its corporate headquarters in Morgan Hill; an RFID tag manufacturing facility in Fargo, N.D.; the Alien RFID Solutions Center, in the Dayton, Ohio area, and sales offices in the US, Europe and Asia. Alien is a member of EPCGlobal.
Source: Alien Technology Corp.