Richardson, Texas-based Mavenir, a provider of cloud-native software apps for mobile networks, has postponed its IPO, citing market volatility as the reason. According to the firm, Mavenir will “reassess the market conditions in the coming months.” Mavenir is backed by Siris Capital.
RICHARDSON, Texas–(BUSINESS WIRE)–Mavenir announced today, the Company has decided to postpone its initial public offering, which was announced on October 6, 2020, amid market volatility. The Company will reassess the market conditions in the coming months and will keep the market informed.
A registration statement relating to the proposed sale of these securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the offering of these securities may be obtained from: Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, Second Floor, New York, NY 10014; Goldman Sachs & Co. LLC, Attn: Prospectus Department, 200 West Street, New York, NY 10282, by telephone at (866) 471-2526, by facsimile at (212) 902-9316 or by email at email@example.com.; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, phone: 866-803-9204, email: firstname.lastname@example.org; or BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte NC 28255-0001, Attention: Prospectus Department, or by emailing email@example.com.