RanMarine Technology, a Dutch maker of drones designed to remove pollution and waste from water surfaces, withdrew its plans for an initial public offering on Wednesday. It had originally for an IPO in filed in 2013, last filing to raise $9 million by offering 1.6 million units at a price of $5.50.
Note: Because the company planned to offer units with warrants attached, RanMarine Technology was excluded from Renaissance Capital's IPO stats.
The Rotterdam, Netherlands-based company was founded in 2016 and booked $0.6 million in sales for the 12 months ended June 30, 2023. It had planned to list on the Nasdaq under the symbol RAN and RANWW. WallachBeth Capital and Craft Capital Management were set to be the joint bookrunners on the deal.
