ICX Electronics Halts Plans for IPO This Year
Times Staff and Wire Reports
ICX Electronics Inc., a San Clemente-based operator of an international exchange for electronic components, has scrapped plans for an initial public stock offering, citing unfavorable market conditions.
“We’re planning to resume the IPO process next year,” Chief Executive Gary Lotzer said, declining to elaborate.
The company had filed plans in March to raise $11.5 million with the offering.
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