Farm operator Taggares Agriculture withdraws IPO


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Taggares Agriculture, which operates vineyards and apple orchards in the Pacific Northwest, withdrew its plans for an initial public offering on Thursday. The Kennewick, WA-based company had planned to raise $46 million by offering 7.0 million shares at a range of $6 to $7. At the midpoint of the proposed range, it would have commanded a fully diluted market value of $54 million.

Taggares was founded in 1979 and booked $8 million in sales for the 12 months ended February 28, 2014. It had planned to list on the NASDAQ under the symbol TAG. Janney Montgomery Scott and Roth Capital were set to be the joint bookrunners on the deal.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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