IPOs

Ucommune Group Holdings withdraws $100 million US IPO in favor of SPAC merger

Ucommune Group Holdings, a leading provider of shared work space in China, officially withdrew its plans for an initial public offering on Thursday. It originally filed in December 2019 with a proposed deal size of $100 million.

Last month, the company announced that it had entered into a definitive merger agreement with blank check company Orisun Acquisition (ORSN).

The Beijing, China-based company was founded in 2015 and booked $150 million in revenue for the 12 months ended September 30, 2019. It had planned to list on the NYSE under the symbol UK. Haitong International and China Renaissance were set to be the joint bookrunners on the deal.

The article Ucommune Group Holdings withdraws $100 million US IPO in favor of SPAC merger 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.

Latest Companies Videos

Renaissance Capital

Renaissance Capital is the global leader in providing pre-IPO institutional research and management of IPO-focused investment products.

Learn More