Glucose Health, which sells branded beverage mixes aimed at diabetics managing their blood sugar, withdrew its plans for an initial public offering on Wednesday. It had filed to raise $9 million by offering 2.1 million shares at $4. The company is currently listed on the OTC under the symbol "GLUC". It had not updated its prospectus since January.
Because the company was expected to have a post-IPO market cap of less than $50 million, Glucose Health will be excluded from Renaissance Capital's 2023 IPO stats.
The Bentonville, AR-based company was founded in 2007 and booked $1 million in sales for the 12 months ended September 30, 2022. It had planned to list on the Nasdaq under the symbol GLUC. EF Hutton was set to be the sole bookrunner on the deal.
