IP address not assigned when launched through openstack

[teebolek]

I have a Tiny Core Linux VM that boots and runs just fine when launched directly from the KVM hypervisor.
However, when launched through openstack (devstack), networking does not seem to be initialized properly.
The Horizon GUI reports that the VM has been assigned Public 172.24.4.230. However the VM's eth0 reports no IP address is assigned:

    eth0    Link encap:Ethernet HWaddr FA:16:3E:87:D7:BE
        UP BROADCAST RUNNING MULTICAST MTU:1500 Metric:1
        RX packets:365 errors:0 dropped:2 overruns:0 frame:0
        TX packets:362 errors:0 dropped:0 overruns:0 carrier:0
        collisions:0 txqueuelen:1000
        RX bytes:870 (870.0 B) TX bytes:810226 (810.2 KB)

    lo      Link encap: Local Loopback
        inet addr:127.0.0.1  Mask:255.0.0.0
        UP LOOPBACK RUNNING  MTU:65536  Metric:1
        RX packets:2800 errors:0 dropped:0 overruns:0 frame:0
        TX packets:2800 errors:0 dropped:0 overruns:0 carrier:0
        collisions:0 txqueuelen:0
        RX bytes:0 (0.0 B) TX bytes:0 (0.0 B)

When I try to manually run the dhcp client command it seems like it's trying to contact the dhcp server but getting no response:

    /sbin/udhcpc -b -i eth0
    udhcpc (v1.21.1) started
    Sending discover...
    Sending discover...
    Sending discover...