Oct 4 (Reuters) - Dave & Buster’s Entertainment Inc withdrew its planned IPO, citing volatile market conditions, a day before it was to start trading on the New York Stock Exchange.
“While we received significant interest from potential investors, current market conditions are not optimal for an IPO at this time,” Chief Executive Steve King said in a statement.
The Dallas-based company in September said it planned to sell about 7.7 million shares at between $12 and $14 each. It had filed for an IPO of up to $150 million last July.
Nutritional supplements seller ViSalus Inc and semiconductor company Cortina Systems Inc also withdrew their IPOs last month.
Dave & Buster’s owns and operates stores that combine dining and entertainment, providing a casual dining menu with a range of entertainment options. It owned 59 stores in the United States and Canada as of Sept. 4.
Goldman Sachs & Co, Jefferies and Piper Jaffray were the lead underwriters to the offering.
Dave & Buster’s is majority backed by Oak Hill Capital Partners.