Coastal Contacts cancels $35.5 million public offering of common stock

Company says market conditions impede fundraising on acceptable terms

By Devika Patel

Knoxville, Tenn., Nov. 14 - Coastal Contacts Inc. said it has determined that current market conditions will not permit it to raise funds on acceptable terms and has subsequently decided not to proceed with a $35.5 million public sale of common stock. The deal was announced on Nov. 9 and would have been conducted by bookrunner William Blair & Co., LLC.

Based in Vancouver, B.C., Coastal Contacts is an online retailer of vision care products.

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