Cantor Entertainment withdraws us$ 100 million IPO

This marks the first company to publicly disclose intent to pursue an offering as a confidential filer as reason for withdrawal as included in the Jumpstart Our Business Startups Act of 2012. Cantor officials declined to comment Wednesday on the withdrawal of the IPO or when they expect to submit the new, confidential draft registration.

The Las Vegas-based company said December 24 that it would seek to raise up to us$ 100 million in an IPO of its Class A common stock, with Cantor Fitzgerald underwriting the IPO. The original plan was to go to market with the shares sometime next year.

In its preliminary prospectus, Cantor Entertainment Technology said it would use the money from the offering to repay debt. The company planned to list the its common stock on the Nasdaq under the symbol CETO.

Since the company was founded in 2004 it has posted net losses of approximately us$ 96.6 million, according to its preliminary prospectus filed in December. Cantor Entertainment Technology, a privately held company, declined to release updated financial results.

In a letter, Cantor Entertainment Technology assured the SEC that "no securities of the company have been sold pursuant to the registration statement."