Orbital system developer Gravitics (GVTX.US) IPO priced at $14-17 per share, with the fundraising size cut by 60% to $50 million.

Zhitong Finance APP has learned that Gravitics Holdings, which focuses on the research and development of large space structures and orbital systems, lowered the proposed deal size for its upcoming initial public offering (IPO) on Tuesday. The company now plans to offer 3.2 million shares at $14 to $17 to raise $50 million. Previously, the company's filing showed that it planned to offer 8.1 million shares at the same offering price range. The latest proposed fundraising size is down 60% from the previous level.