SAN DIEGO, Nov. 15, 2019 /PRNewswire/ — HYLETE, Inc. today announced that it has postponed its previously announced initial public offering. HYLETE will continue to evaluate the timing for the proposed offering as market conditions develop.
“We have decided to postpone the IPO for now,” said Ron Wilson, HYLETE Co-Founder and CEO. “This is mainly due to current unfavorable market conditions and the lack of institutional support for IPOs at this time. We want to do what is ultimately best for our investors, our community, and our company. This means waiting for the right time to go public.
With that said, we have opened up a crowdfunding opportunity utilizing Regulation CF through the StartEngine platform. We are excited to be going back to what we do best – which is crowdfunding. This will allow the entire HYLETE community, especially those interested in participating in the IPO, to be part of our growth and success, and also invest at a lower share price. Most importantly, this will allow us to communicate with full transparency again, without the limitations that were put on us during the IPO process. The ultimate goal is to still take HYLETE public in the future and offer liquidity to all of our investors.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
HYLETE is a fitness lifestyle brand, founded on the core belief that a company’s impact can and should live beyond the products they sell. Built on a foundation of innovation and quality, HYLETE’s energy is equally focused on inspiring the well-being of their community. Each detail of every design has a purpose. Whether it’s fine-tuned for your most intense training session, or optimized for comfort outside of the gym, HYLETE is committed to providing high-quality athletic apparel, footwear, and gear at their unique ‘HYLETE pricing’.