First Wind dealt a blow; no impact to Cohocton
Wind company pulls IPO; Town adopts budget with no tax increaseEvening Tribune
Executives at First Wind Holdings Inc. pulled the plug on their initial public offering (IPO) just hours before the company’s stock was due to begin trading on the Nasdaq late last week.
Initially the company wanted to sell roughly 12 million shares in a price range of $24 to $26 each, which would have generated as much as $312 million.
A lowered price range of $18 to $20 was announced before trading began last Thursday, but the company decided to hold off. More...
The town relies heavily on the wind project, Zigenfus said. Prior to the turbines coming to Cohocton, the tax levy was $4.18 in 2007.
This year the town received $725,000 as part of the community host payment, and $100,000 of that will be used to repair roads. The rest will go into the general fund. More...