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IT services provider SharedLabs withdraws $6 million IPO after announcing Glowpoint merger


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SharedLabs, which provides outsourced IT services, withdrew its plans for an initial public offering on Monday. It had filed to raise $6 million by offering 1 million shares at a price range of $5 to $7.

The company announced that it will merge with Glowpoint ( GLOW ), the Denver, CO-based provider of video collaboration and network applications. 

The Jacksonville, FL-based company was founded in 2016 and booked $72 million in revenue for the 12 months ended June 30, 2018. It had planned to list on the Nasdaq under the symbol SHLB. ThinkEquity was set to be the sole bookrunner on the deal.

The article IT services provider SharedLabs withdraws $6 million IPO after announcing Glowpoint merger originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

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
Referenced Symbols: GLOW



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