PishPosh, an online retailer of baby products, has postponed its IPO.
The company previously announced on March 8 that it had raised $9 million by offering 1.8 million shares at a price of $5.00 per share, and anticipated trading on the Nasdaq later that day. However, its shares did not trade on Wednesday, and in a new press release PishPosh states that lead underwriter Boustead was postponing the deal. The company intends to pursue an IPO at a later date.
The Lakewood, NJ-based company was founded in 2015 and booked $22 million in sales for the 12 months ended September 30, 2022. It had planned to list on the Nasdaq under the symbol BABY. Boustead Securities and Sutter Securities were set to be the lead managers on the deal.
