Priam Properties postpones $171 million IPO

Priam Properties, a newly-formed REIT focused on office properties in the Midwest and Southeast, postponed its IPO on Thursday. It had filed to raise $171 million by offering 9 million shares at a price range of $18 to $20.

The Nashville, TN-based company was founded in 2018 and booked $42 million in sales for the 12 months ended March 31, 2019. It had planned to list on the NYSE under the symbol PRMI. BofA Merrill Lynch, Baird and RBC Capital Markets were set to be the joint bookrunners on the deal.

The article Priam Properties postpones $171 million 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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