Pyro AI, a Hong Kong-based mobile and online game developer, withdrew its plans for an initial public offering on Tuesday. It had originally filed in July 2024 and planned to raise $10 million by offering 2.3 million shares at a price range of $4 to $5. The company last updated its prospectus in September 2024.
The company was founded in 2020 and booked $6 million in revenue for the 12 months ended December 31, 2023. It had planned to list on the Nasdaq under the symbol PYRO. Cathay Securities was set to be the sole bookrunner on the deal.
