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Lights out: LightBeam Electric withdraws IPO

LightBeam Electric Company, a roll-up of regional solar power and renewable energy utilities in the UK and US, withdrew its plans for an initial public offering on Tuesday citing adverse conditions in the renewable energy market.

The Sausalito, CA-based company was founded in 2008 and booked $26 million in sales for the 12 months ended December 31, 2014. It had planned to list on the NYSE under the symbol LEC. BMO Capital Markets, Macquarie Capital and RBC Capital Markets were set to be the joint bookrunners on the deal.

The article Lights out: LightBeam Electric withdraws IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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