Boston-based First Wind Holdings, a developer and operator of wind farms, announced today that it would not be pursuing its previously proposed initial public offering. “While we received significant interest from potential investors during the marketing of our IPO, the terms that the IPO market was seeking at this time were not attractive to the company,” First Wind CEO Paul Gaynor said in a company announcement. Yesterday, the firm cut the range for the expected price of the 12 million-share offering to $18 to $20 per share, down from the previously proposed range of $24 to $26 per share. It first revealed its plans for a $450 million IPO in July 2008.
Author: Erin Kutz
Erin Kutz has a background in covering business, politics and general news. She holds a bachelor’s degree in journalism from Boston University. Erin previously worked in the Boston bureau of Reuters, where she wrote articles on the investment management and mutual fund industries. While in college, she researched for USA Today reporter Jayne O’Donnell’s book, Gen Buy: How Tweens, Teens and Twenty-Somethings Are Revolutionizing Retail. She also spent a semester in Washington, DC, reporting Capitol Hill stories as a correspondent for two Connecticut newspapers and interning in the Money section of USA Today, where she assisted with coverage on the retail and small business beats. Erin got her first taste of reporting at Boston University’s independent student newspaper, as a city section reporter and fact checker and editor of the paper’s weekly business section.
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