Trajector withdraws plans for IPO, less than 2 months after initial filing

trajector-withdraws-plans-for-ipo,-less-than-2-months-after-initial-filing

Trajector Inc. filed Tuesday to withdraw its previous filing for an initial public offering, “effective immediately.” The Florida-based benefits management software company had filed to go public on Oct. 18, but had not yet determined the number of shares to offer, the expected price of the IPO, the number of shares expected to be outstanding after the IPO or the ticker symbol. Deutsche Bank, Citigroup, Credit Suisse and Stifel were the lead underwriters. The company did not provide a reason for the withdrawal, but did request to the Securities and Exchange Commission that all fees paid in connection with the IPO filing be credited to the company’s account for future use. The company’s withdrawal comes during a time of investor disdain for IPO shares, as the Renaissance IPO ETF IPO, -3.98% has tumbled 12.0% during the past three months while the S&P 500 SPX, -0.06% has rallied 11.5%.

Source: Marketwatch

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