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IPO Watch: YogaWorks Will Try Again

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YogaWorks is reportedly planning for an initial public offering again, just few weeks after it postponed its IPO citing "market conditions."

YogaWorks is a chain of 50 yoga studios spread across six US metropolitan areas.

The company is now seeking to raise lower capital than it previously planned. Yogaworks now intends to offer up to 7.3 million shares at a price of $5.50 to $6.50, according to a filing with the US Securities and Exchange Commission. The pricing will raise proceeds between $40 million and $47 million.

Earlier, the company intended to offer 5 million shares at a price of $12 to 14 per share, which would raised proceeds between $60 million and $70 million.

The company will list on the Nasdaq under the symbol "YOGA.

The company had reported a net loss of $9.4 million in 2016, wider than the $9.2 million loss recorded in 2015.

by RTT Staff Writer

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