IPO Market Roundup: Customers Bancorp, Rib-X and Alon Brands

A few companies are revisiting their IPO plans. Two, in fact, are getting out of the race completely, while a third is adjusting its expectations. Here’s what you need to know:

Customers Bancorp

This community bank just yanked its plans to go public. It had been looking for $100 mn in fresh capital. Customers Bancorp gives ‘market conditions’ as the reason for the IPO withdrawal.

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Source: Renaissance Capital

Alon Brands

Never heard of these guys? They operate 7-Eleven convenience stores. Well, the retailer has decided to get out of the IPO pipeline, withdrawing a deal that it had hoped would be worth $100 mn.

Source: Renaissance Capital

Rib-X Pharmaceuticals

The biotech company has cut its price IPO price range. Now, Rib-X Pharmaceuticals is looking to raise $65 mn by selling 10 mn shares priced $6 to $7 each. This is down from a $75 mn capital raise through 5.8 mn shares priced $12 to $14.

Source: Renaissance Capital

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