Clarios International, a global manufacturer of low-voltage vehicle batteries, withdrew its plans for an initial public offering on Monday.
The company originally filed in July 2021 and set terms later that month. It planned to raise $1.7 billion at a $9.7 billion market cap but postponed, citing market conditions. It revived the offering in June 2022, and while it had filed amendments since then, it hadn't provided an update since May 2024.
The Milwaukee, WI-based company was founded in 1885 and booked $10.5 billion in revenue for the 12 months ended March 31, 2024. It had planned to list on the NYSE under the symbol BTRY. Morgan Stanley and Citi were set to be the joint bookrunners on the deal.
