3D company's IPO cools down

Boy, what a lousy time to be preparing a public offering. Bev Hills-based RealD, which develops 3D movie-screening systems, is looking to raise about $161 million, down $40 million from the company's earlier plans. RealD intends to sell up to 12.4 million shares at between $13 and $15 a share. The systems are licensed to several major movie chains, including Cinemark Holdings and Regal Entertainment. Things are not all bad in IPO land - another California IPO, Palo Alto-based Tesla Motors, is doing quite nicely in its first day of trading (and in spite of an otherwise down market). The initial sales price was $17 and it's now in the $20.50 range.