Remora Royalties, which owns oil and gas mineral royalty interests underlying 600,000 acres across the US, postponed its IPO on Thursday.
Remora had filed to raise $105 million by offering 5.25 million shares at a price range of $19 to $21. At the midpoint, its proposed market cap was $210 million.
The Austin, TX-based company was founded in 2011 and booked $31 million in revenue for the 12 months ended June 30, 2018. It had planned to list on the Nasdaq under the symbol RRI. RBC Capital Markets, Wells Fargo Securities, UBS Investment Bank and Stifel were set to be the joint bookrunners on the deal.
