Avadim Health, which develops and sells non-prescription topical antiseptics and analgesics under the Theraworx brand, postponed its IPO on Thursday. It had filed to raise $75 million by offering 5 million shares at a price range of $14 to $16.
The Asheville, NC-based company was founded in 2007 and booked $44 million in sales for the 12 months ended September 30, 2019. It had planned to list on the Nasdaq under the symbol AHI. Raymond James, SunTrust Robinson Humphrey and Oppenheimer & Co. were set to be the joint bookrunners on the deal.
