Initiate Systems files to withdraw IPO plans
WASHINGTON, June 25 (Reuters) - Initiate Systems Inc filed on Wednesday to withdraw its plans for an initial public offering.
The software provider had previously filed to raise up to $75 million in the IPO and to be listed on the Nasdaq Stock Exchange.
The company said the terms in the current public marketplace are not attractive enough to go through with the offering. (Reporting by Karey Wutkowski; Editing by Gary Hill)
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