Earlier this summer in blogmosaic, we featured the initial public offering submitted by Regius Thoroughbreds Inc, which seeks to be the first company in the horse breeding/racing industry to go public company since 1996. The Regius IPO is still in the road show phase — but here’s a small piece of related news. One of the few other publicly held companies in the industry, International Thoroughbred Breeders Inc., had its registration revoked last week by the SEC. As the Commission’s Order notes, International Thoroughbred had gone over four years without any filings, and has been embroiled in bankruptcy proceedings.
Is the departure of this competitor another symptom of an imploding market — or will it open up the field for Regius’s surge? Is the glass half empty or half full?