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Canadian renewables company SusGlobal Energy withdraws $12 million Nasdaq uplisting

SusGlobal Energy, a Canadian renewables company focused on developing waste-to-energy projects, withdrew its plans for an initial public offering on Tuesday. It had filed in January 2022 and set terms the following May, planning to raise $12 million by offering 2.4 million shares at $5. It had not updated its prospectus since then. The company is currently listed on the OTC under the symbol “SNRG.”

The Toronto, Canada-based company was founded in 2014 and booked $1 million in revenue for the 12 months ended December 31, 2021. It had planned to list on the Nasdaq under the symbol SNRG. Spartan Capital Securities and Revere Securities were set to be the joint bookrunners on the deal.