Helio Corporation, which designs, assembles, and tests space flight equipment, withdrew its plans for an initial public offering on Tuesday. It had filed to raise $15 million by offering 3.3 million units at a price range of $4 to $5. Each unit consisted of one share of common stock and one warrant, exercisable at $5.63.
Helio Corporation would have been excluded from Renaissance Capital's 2026 IPO stats.
The Berkeley, CA-based company was founded in 2018 and booked $7 million in revenue for the 12 months ended October 31, 2024. It had planned to list on the NYSE American under the symbol HLEO. ThinkEquity was set to be the sole bookrunner on the deal.
