United Online (UNTD) has cancelled the much anticipated IPO of its Classmates.com operations.
According to the company, Classmates Media Corporation, intends to withdraw its S-1 registration statement as previously filed with the Securities and Exchange Commission. United Online has determined that proceeding with the initial public offering ("IPO") under current market conditions would not be in the best interests of its stockholders.
United Online expects to record transaction-related costs of approximately $4.5 million to $5.5 million during the fourth quarter ending December 31, 2007 in connection with its decision to withdraw the offering
Douglas A. McIntyre
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