Four Springs Capital Trust, a commercial REIT, withdraws $101 million IPO

Four Springs Capital Trust, a commercial REIT with 48 properties across 21 states, withdrew its plans for an initial public offering on Friday. It had filed to raise $101 million by offering 5.6 million shares at a price range of $17 to $19.

The Lake Como, NJ-based company was founded in 2012 and booked $16 million in sales for the 12 months ended March 31, 2017. It had planned to list on the NYSE under the symbol FSPR. RBC Capital Markets and SunTrust Robinson Humphrey were set to be the joint bookrunners on the deal.