RFID Media's Abuzz with Alien's IPO Drama
What will Alien do next?
Says reporter #1: Though reportedly losing money on sales, Alien, which sells RFID chips that are embedded in products so that manufacturers, retailers and the military can more efficiently keep track of their goods, wants to be valued at half a billion dollars in its upcoming IPO. This is a company whose only business distinction so far has been to log declining sales, and widening losses. The company lost $18 million in the most recent quarter.
Reporter #2: Alien’s big plans may be dead on arrival. Says one: The company says it hasn’t abandoned its plans to tap the public market and that it will monitor the market on a daily basis. But it seems safe to say Alien won’t be raising the nearly $100 million it had hoped for anytime soon. Alien was set to price nine million shares between $10 and $12 a share before pulling the deal on Friday. ![[end]](/resources/bullet/rfidnews-4.gif)
