Avadim Health postpones $75 million IPO

Avadim Health, which develops and sells non-prescription topical antiseptics and analgesics under the Theraworx brand, postponed its IPO on Thursday. It had filed to raise $75 million by offering 5 million shares at a price range of $14 to $16.

The Asheville, NC-based company was founded in 2007 and booked $44 million in sales for the 12 months ended September 30, 2019. It had planned to list on the Nasdaq under the symbol AHI. Raymond James, SunTrust Robinson Humphrey and Oppenheimer & Co. were set to be the joint bookrunners on the deal.

The article Avadim Health postpones $75 million IPO 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.

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