5G Edge Acquisition, a blank check company targeting the TMT sector, withdrew its plans for an initial public offering on Thursday. It had filed in March 2021 to raise $300 million by offering 30 million units at $10, with each unit containing one share of common stock and one-third of a warrant.
The company was set to be led by Chairman and CFO Douglas Maine, a former General Manager at IBM, and CEO and Director Allen Salmasi, the founder and CEO of Veea and NLabs, and founder and former CEO of NextWave Telecom.
The New York, NY-based company was founded in 2021 and had planned to list on the Nasdaq under the symbol LYNKU. Cantor Fitzgerald was set to be the sole bookrunner on the deal.
IPO Pro - "The Ultimate Resource for IPOs"
Don't risk buying another IPO without IPO Pro.
Get your FREE TRIAL now.
