REV Renewables, which develops, acquires, and operates energy storage and renewables generation assets, withdrew its plans for an initial public offering on Wednesday. It originally filed in January 2022 with a proposed deal size of $100 million. The company had not updated its prospectus since December 2022.
The New York, NY-based company was founded in 1990 and booked $406 million in revenue for the 12 months ended September 30, 2022. It had planned to list on the Nasdaq under the symbol RVR. Morgan Stanley, Goldman Sachs, RBC Capital Markets, BofA Securities, Citi, BMO Capital Markets, Evercore ISI, Nomura Securities, and WR Securities were set to be the joint bookrunners on the deal.
