Nexsan Pulls IPO

Thousand Oaks-based storage systems developer Nexsan has officially pulled its IPO plans, saying in a regulatory filing today with the SEC that it has decided to withdraw its IPO registration. Nexsan, which had filed for an IPO in April of 2008, cited "unfavorable market conditions" for the withdrawal. Nexsan was one of a number of local technology companies who had hoped to reach the public markets, and came to the brink of an offering in April of 2010. The firm had set an initial expected offering range for a debut on the NASDAQ Global Market, but then on the eve of its expected IPO, decided to delay its offering.