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.
Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)