Ecolomondo, which markets equipment that can recycle hydrocarbon waste into carbon black and oil, officially withdrew its plans for an initial public offering on Monday after agreeing to a reverse merger with Cortina Capital (TSVX: CCN.P) worth $22 million in January 2017. It had originally filed to raise $14 million by offering 2.0 million shares at a price range of $6.50 to $7.50 in March 2015 and last amended its filing in April 2016.
The Quebec, Canada-based company was founded in 2007 and it had planned to list on the Nasdaq under the symbol EECO. Chardan Capital Markets was set to be the sole bookrunner on the deal.
