KinderCare Learning Companies, the largest private provider of early childhood education and care services in the US, withdrew its plans for an initial public offering on Wednesday. The company originally filed in October 2021 and planned to raise $503 million by offering 25.8 million shares at a price range of $18 to $21. It postponed the following November but revived the offering with a new blank filing in March 2022. KinderCare last updated its prospectus in November 2022.
The Lake Oswego, OR-based company was founded in 1969 and booked $2.1 billion in revenue for the 12 months ended September 30, 2022. It had planned to list on the NYSE under the symbol KLC. Barclays, Morgan Stanley, Jefferies, BofA Securities, Goldman Sachs, Baird, Citi, Credit Suisse, and Macquarie Capital were set to be the joint bookrunners on the deal.
