Smith Electric Vehicles (SMTH)

[Joz]

KANSAS CITY, Mo. — Smith Electric Vehicles Corp. (Smith), a leader in all-electric commercial vehicles, today announced that it has decided not to pursue its planned initial public offering. The company intends to withdraw its registration statement on Form S-1 as filed with the U.S. Securities and Exchange Commission.

“We received significant interest from potential investors, however, we were unable to complete a transaction at a valuation or size that would be in the best interests of our company and its existing shareholders,” said Bryan Hansel, Smith’s chief executive officer. “We have instead elected to pursue private financing opportunities to support the execution of our business plan.”

Read more here: http://www.heraldonline.com/2012/09/20/4280176/smith-electric-vehicles-withdraws.html#storylink=cpy