The South San Francisco, Calif.-based provider of systems designed to improve the productivity of laboratories had previously planned to issue 5.3 million shares for a total raise of $79.5 million, according to a regulatory filing. The price range was supposed to be $14 to $16 a share.
The IPO would have been the first in the U.S. since early August. Instead, it’s the 64th to be pulled this year. Thomson Reuters reports that there have been 30 IPOs this year, generating $26.7 billion in proceeds. That’s about a quarter of the amount generated by this time a year ago.
The underwriters were Morgan Stanley and UBS Investment bank, a unit of Switzerland’s UBS AG.
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