Friday, November 14, 2008

Local Matters Pulls IPO

Denver-based Local Matters, which develops local search and directory assistance technology, said Friday in a filing with the SEC that it has pulled its IPO. The firm had originally filed for an IPO in March of 2006, looking to raise up to $46M. According to the filing the firm is pulling the IPO because of "changed circumstances regarding the securities markets." The firm's IPO was being underwritten by Canaccord Adams, CIBC World Markets, Griffiths McBurney Corp., and Macquarie Capital Markets. Investors in the firm include Spencer Trask Ventures, Sandler Capital Partners, Kings Road Investments, and Software Seed Capital Partners.