[Update: This story was written Oct 13. PE Week has since retracted its report (scroll down), and says GlobalStar is still on track for IPO.]
GlobalStar, the Milpitas provider of voice and data communications services via satellite that just last week reasserted its plans to go public, has withdrawn registration for its proposed $100 million IPO. No reason was given. PE Week reported the news, but it got little coverage elsewhere. This reversal is a little odd (after all, the stock market is relatively robust right now), but perhaps there just wasn’t any demand for it.
Tags: co:GlobalStar
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