Priam Properties, a newly-formed REIT focused on office properties in the Midwest and Southeast, postponed its IPO on Thursday. It had filed to raise $171 million by offering 9 million shares at a price range of $18 to $20.
The Nashville, TN-based company was founded in 2018 and booked $42 million in sales for the 12 months ended March 31, 2019. It had planned to list on the NYSE under the symbol PRMI. BofA Merrill Lynch, Baird and RBC Capital Markets were set to be the joint bookrunners on the deal.
