China office space operating platform Agii Inc. (AGII.US) has canceled its initial public offering (IPO) plans. The company originally filed in September 2022, and most recently planned to issue 1.4 million shares at a price of $6 to $7, raising $9 million.
This is Agii's second attempt at going public. The company had signed a merger agreement with a special purpose acquisition company (SPAC) Goldenbridge Acquisition in 2021, but terminated it in 2022.
Founded in 2015 and headquartered in Shanghai, Agii was formerly known as Distrii. In 2021, the Distrii brand officially upgraded to "AgiiPlus Agii", positioning itself as "the leader of agile office solutions".
The company's revenue for the 12 months ended December 31, 2023 was $45 million. The company originally planned to list on the Nasdaq under the symbol "AGII". Kingswood Capital Markets was the sole bookrunner for the transaction.