📅 - Peer 1 Network (peer1.net -> peer1.com), a provider of bandwidth, server location and dedicated Web hosting, announced late last week that it has withdrawn the private placement it announced on October 12, 2004 and amended on October 22, 2004.
The company's management team said the currently unfavorable market conditions are preventing it from completing a private placement at a price it feels is acceptable. "The fundamentals of Peer 1 are very strong, especially with the acquisition of ServerBeach," says James Taylor, chief financial officer of Peer 1 Network. "The company will continue to focus on reducing costs through the integration process and will move forward with its growth strategy." Peer 1 Network recently acquired dedicated server specialist ServerBeach.
Reads: 2103 | Category: General | Source: TheWHIR : Web Host Industry Reviews URL source: http://www.thewhir.com/marketwatch/pee121504.cfm
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Reads: 2103 | Category: General | Source: TheWHIR : Web Host Industry Reviews