Fortress-backed Virgin Trains USA postpones $510 million IPO
Virgin Trains USA, which owns and operates an express passenger rail system in Florida, postponed its IPO on Tuesday. It had filed to raise $510 million by offering 28.3 million shares at a price range of $17 to $19.
The Miami, FL-based company was founded in 2013 and booked $5 million in sales for the 12 months ended September 30, 2018. It had planned to list on the Nasdaq under the symbol VTUS. Barclays, J.P. Morgan, Morgan Stanley, BofA Merrill Lynch and Allen & Company were set to be the joint bookrunners on the deal.
The article Fortress-backed Virgin Trains USA postpones $510 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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