It had been reported that the reason for the pullback was an e-mail missive from Wired CEO Louis Rossetto to employees that somehow ended up being posted on the Well online service. Posting such a note could be considered public hyping of a stock during a company's so-called "quiet period."
This is the second time Wired has pulled its IPO. The company hoped to raise $61.75 million and issue 4.75 million shares. But reports of continued losses at the company may have soured the market.
Copyright October 1996, Crain Communications Inc.