G Medical Innovations Holdings, which provides app-connected medical devices for monitoring vital signs, withdrew its plans for an initial public offering on Wednesday, citing market conditions. It had filed to raise $15 million by offering 1.4 million ADSs at a price of $10.50. The company is currently listed on the ASX under the symbol GMV.
The London, United Kingdom-based company was founded in 2014 and booked $3 million in sales for the 12 months ended December 31, 2018. It had planned to list on the Nasdaq under the symbol GMVD. H.C. Wainwright was set to be the sole bookrunner on the deal.
