Peak Resorts, which operates overnight-drive and day-ski resorts in six US states, withdrew its plans for an initial public offering on Thursday. The company originally filed terms for an $85 million IPO in November 2011 with a $152 million market value but postponed its offering that December. In its latest filing, Peak Resorts cites poor market conditions in 2011 for its withdrawal.
Close peer Intrawest Resorts (SNOW) has fallen about 16% since its January IPO after pricing below the range.
The Wildwood, MO-based company was founded in 1982 and booked $98 million in sales for the 12 months ended April 30, 2011. PEAK. Raymond James was set to be the sole bookrunner on the deal.
