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BrightSource Not Looking Bright: Another Attempt to Go Public Fails

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  • BrightSource Not Looking Bright: Another Attempt to Go Public Fails

    Today we were supposed to see the new listing of solar thermal startup BrightSource on the Nasdaq exchange, after a previous aborted attempt. But last night, news hit the street that BrightSource had changed its mind and will not go public. An eleventh hour change of heart is not usual in the public security markets and caught analysts unaware. BrightSource was seeking to raise roughly about $150 million on the public market, but the Oakland-based company issued a press release saying it had decided not to pursue its IPO due to adverse market conditions.

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  • #2
    They have loan guarantees of 1.6B
    This could be a bigger bust than Solyndra ever thought of being.
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    • #3
      Another NoBama mess.
      MSEE, PE

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      • #4
        Originally posted by Naptown View Post
        They have loan guarantees of 1.6B
        This could be a bigger bust than Solyndra ever thought of being.
        I'm not sure opting not to go public implies that a company is about to go under. CST is proven technology with the only question being related to costs compared to other technologies. In the long run, I think we'll see a broad mix of energy sources but I don't think it will save us from having to deal with the upheaval the world is facing from climate change.

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        • #5
          Originally posted by Ian S View Post
          I'm not sure opting not to go public implies that a company is about to go under. CST is proven technology with the only question being related to costs compared to other technologies. In the long run, I think we'll see a broad mix of energy sources but I don't think it will save us from having to deal with the upheaval the world is facing from climate change.
          The big bucks for the investors is the IPO - not to go ahead means something is horribly wrong.
          [SIGPIC][/SIGPIC]

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          • #6
            It is one thing to be a private company using government money and go bankrupt, no one hears about it or cares much if it happens. But to go offer IPO and use public funds and go bankrupt is fraud and people go to jail.
            MSEE, PE

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