Akrion Again Abandons IPO

Akrion Inc., an Allentown, Pa.-based provider of batch-immersion and single-wafer wet cleaning systems for the semiconductor industry, has withdrawn plans for a $86.25 million IPO. No reason was provided. Akrion had planned to trade on the Nasdaq with Credit Suisse and Deutsche Bank serving as co-lead underwriters.

 

This is the second such withdrawal for Akrion. The company filed for a $50 million IPO in 2004, but withdrew registration last December, citing “current market conditions.”

 

Sunrise Capital Partners holds a 97.7% ownership position. www.akrion.com