Law360, New York (November 15, 2016, 5:41 PM EST) -- Dallas-based Empire Petroleum Partners LP, a private equity-backed wholesale gasoline distributor, pulled its planned initial public offering on Monday, blaming its decision on current market conditions.
Empire Petroleum filed plans for a nominal $100 million IPO in May 2015, with the company saying it intended to use the proceeds to help expand its footprint.
It never set terms for or priced the offering, and on Monday, Empire Petroleum asked the U.S.
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Securities and Exchange Commission to withdraw its registration statement because current market conditions have caused a change in strategy.
“The company requests this withdrawal because it has determined not to...
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