Rotech Healthcare Holdings, which provides home medical equipment and services, saw its IPO registration statement declared abandoned by the SEC in a new filing. It had originally filed in July 2021 to raise $100 million; at the time we estimated the deal size could be as high as $300 million.
The CEO was quoted in HME News saying "(We're) just timed out for now. We have not updated but do plan to continue to update once the market changes."
The Orlando, FL-based company was founded in 2018 and booked $565 million in sales for the 12 months ended June 30, 2021. It had planned to list on the Nasdaq under the symbol ROTK. BofA Securities, Jefferies, UBS Investment Bank, Truist Securities, Baird, and RBC Capital Markets were set to be the joint bookrunners on the deal.
