INSU Acquisition IV Withdraws $220M IPO

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In a recent development, INSU Acquisition IV has withdrawn its $220 million IPO that was initially registered back in February 2021. In a letter addressed to the SEC, the company advised that it is withdrawing the offering of 22 million units. This move is bound to have an impact on the market and earnings of INSU ACQUISITION CORP. III($NASDAQ:IIII) in the long term. Considering the current market conditions, it remains to be seen how this development pans out for the company.

Price History

On Tuesday, INSU Acquisition Corp III withdrew its $220 million initial public offering . The company had originally filed to go public in February, but postponed its plans due to market conditions. INSU had been seeking to raise funds to acquire insurance companies. INSU’s stock opened at $9.90 per share on Tuesday and closed at the same price, down 0.1% from its last closing price.

VI Analysis

III is a strong growth company, but is considered less stable due to lower profitability. The company’s fundamentals reflect its long term potential, and the VI Star Chart shows that INSU ACQUISITION CORP. III is strong in growth, but weak in asset, dividend, and profitability. III is classified as a ‘cheetah’, a type of company that achieved high revenue or earnings growth but is considered less stable due to lower profitability. High growth companies are deemed more volatile as they attempt to grow faster. III has a high health score of 7/10 considering its cashflows and debt, and is capable to pay off debt and fund future operations.

Summary

INSU Acquisition Corp IV has withdrawn its $220 million initial public offering, citing “unfavorable market conditions.” The company had filed to sell 22 million units at $10 each in an effort to raise capital for acquisitions. In light of the current market conditions, the company has decided to withdraw its IPO and focus on other opportunities.