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IT services provider SharedLabs decreases proposed IPO deal size

SharedLabs, which provides outsourced IT services, lowered the proposed deal size for its upcoming IPO on Thursday.

The Jacksonville, FL-based company now plans to raise $6 million by offering 1.0 million shares at a price range of $5 to $7. The company had previously filed to offer 2.5 million shares at the same range. At the midpoint of the range, SharedLabs will raise 60% less in proceeds than previously anticipated.

SharedLabs was founded in 2016 and booked $72 million in revenue for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol SHLB. ThinkEquity is the sole bookrunner on the deal.

The article IT services provider SharedLabs decreases proposed IPO deal size 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.


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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