IPOs

IT infrastructure provider PSI International withdraws $30 million Reg A+ IPO

PSI International, which provides IT infrastructure solutions to US governmental agencies, withdrew its plans for an initial public offering on Thursday. It had filed with the SEC in 2017 for a best-efforts initial public offering under Regulation A+.

The Fairfax, VA-based company planned to raise $30 million by offering 2 million shares at a price of $15. At $15, PSI would have commanded a market cap of $210 million.

PSI International was founded in 1977 and booked $52 million in sales for the 12 months ended December 31, 2016. It had planned to list on the Nasdaq under the symbol PSIT. were set to be the joint bookrunners on the deal.

The article IT infrastructure provider PSI International withdraws $30 million Reg A+ 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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