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AutoTrader.com Pulls IPO; Cites Market Conditions

November 14, 2000

AutoTrader.com Inc., which runs a Website linking buyers and sellers of used vehicles, has filed to withdraw its $65 million initial public offering (IPO), citing unfavorable market conditions.

The company said in a Nov. 14 filing with the Securities and Exchange Commission (SEC) that "the terms that could be obtained in the public marketplace at this time are not sufficiently attractive to warranty proceeding with the proposed offering."

The Atlanta-based company planned to have its 6.5 million Class A shares trade on the Nasdaq Stock Market under the symbol "ATDC." The company planned to offer shares at $10 each, according to an SEC filing made in July.

Cox Enterprises Inc. is among the largest shareholders at AutoTrader.com.

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