Guitar Giant Fender Withdraws $200M IPO; Cites Market Conditions, Uncertainty in Europe
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According to reports out Friday, musical instrument giant Fender (Nasdaq: FNDR) has withdrawn its IPO filing.
Back in March, Fender filed for a $200 million IPO. Shares were expected to trade under the ticker "FNDR" on the Nasdaq Global Market.
The company was founded in 1946 by Leo Fender and quickly rose to become the de facto name in guitars worldwide. Fender said that global market it addresses, including fretted instruments, instrument amplifiers, percussion products and general accessories, had sales of over $4.7 billion in 2010. It sell under the brand names Fender, Squier, Jackson, Guild, Ovation and Latin Percussion, while licensing the names Gretsch, EVH (Eddie Van Halen) and Takamine.
On withdrawing its IPO, Fender cited general market conditions as well as uncertainty in Europe.
To view the original S-1 filing with the U.S. SEC, click here.
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Back in March, Fender filed for a $200 million IPO. Shares were expected to trade under the ticker "FNDR" on the Nasdaq Global Market.
The company was founded in 1946 by Leo Fender and quickly rose to become the de facto name in guitars worldwide. Fender said that global market it addresses, including fretted instruments, instrument amplifiers, percussion products and general accessories, had sales of over $4.7 billion in 2010. It sell under the brand names Fender, Squier, Jackson, Guild, Ovation and Latin Percussion, while licensing the names Gretsch, EVH (Eddie Van Halen) and Takamine.
On withdrawing its IPO, Fender cited general market conditions as well as uncertainty in Europe.
To view the original S-1 filing with the U.S. SEC, click here.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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