B Capital Technology Opportunities, a blank check company formed by B Capital Group targeting transformational tech, withdrew its plans for an initial public offering on Tuesday. It had filed in February 2021 and most recently planned to raise $200 million by offering 20 million shares at $10.
The company was set to be led by Chairman Howard Morgan, co-founder and Chairman of global multi-stage investment firm B Capital Group, and CEO and Director Raj Ganguly, co-founder and Co-Managing General Partner of B Capital. The company planned to focus on targets with operations or prospective operations in technology that is transforming large traditional industries such as consumer enablement, financial services, health & wellness, and industrial & transportation.
The New York, NY-based company was founded in 2021 and planned to list on the Nasdaq under the symbol BCTA. Credit Suisse and Citi were set to be the joint bookrunners on the deal.
