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.
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