Pogo Jet files to go public, despite having no revenue
Pogo Jet, a Chicopee, Mass., provider of a private jet charter service, filed to go public and raise $103.5 million.
Remarkably, the company wants to do so despite having no revenue. It won’t even launch its service until 2009, and is still awaiting government approval. Its surprising that it wants the public market to fund its launch.
Here’s the SEC filing.
The IPO will be conducted through an “OpenIPO” process, which allows buyers bid for the shares in… Continue Reading