WASHINGTON (AFX) - Alien Technology Corp. withdrew on Friday its pending initial public offering with the Securities and Exchange Commission.
The maker of radio frequency identification had been expected to begin trading July 28, but it later delayed its IPO.
The Morgan Hill, Calif.-based company had planned to offer 9 million shares at an anticipated $10 to $12 a share in a bid to raise $99 million.
The company didn't disclose a reason for the withdrawal in Friday's filing. It said it may undertake a subsequent private offering.
Alien Technology sells radio-frequency identification tags and readers that are used to track products from manufacturing lines to retail stores. The company has never been profitable.
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