Solar company Solyndra has canceled its plan to raise money through an initial public offering on the stock market, opting to raise money from existing investors instead.
The Fremont, Calif.-based company on Friday filed a "registration withdrawal" request with the Securities and Exchange Commission, saying that it has changed course due to "adverse market conditions."
On Thursday, Solyndra said that it has raised $175 million from existing venture capital and private equity investors.
"Given the ongoing uncertainties in the public capital markets, we elected to pursue alternative funding from our existing investor base. This … Read more