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E-commerce services provider ConversionPoint postpones $40 million IPO

May 15, 2019

ConversionPoint Holdings, which provides an AI-integrated SaaS platform for marketing and e-commerce services, postponed its IPO on Wednesday. It had filed to raise $40 million by offering 6.2 million shares at a price range of $6 to $7.

The Newport Beach, CA-based company was founded in 2016 and booked $113 million in sales for the 12 months ended December 31, 2018. It had planned to list on the Nasdaq under the symbol CPTI. Oppenheimer & Co. and GMP Securities were set to be the joint bookrunners on the deal.