D-FW companies Caliber Home Loans and Mavenir postpone IPOs amid uncertain market

Two Dallas-Fort Worth companies are postponing their planned initial public offerings this week citing volatile or uncertain market conditions as COVID-19 case counts rise the week before a contentious U.S. presidential election.

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Richardson-based Mavenir, which provides “carrier-grade” cloud-native software and tech for wireless service providers, announced it was postponing its IPO Wednesday.

In a release, the company did not detail a new timeline for its offering, but said it plans to “reassess market conditions in the coming months.” Mavenir had filed earlier this the month to go public, seeking to raise $275 million.

Mavenir declined to provide further comment Thursday.

Coppell-based home mortgage company Caliber Home Loans is also postponing its IPO, from which it intended to raise up to $200 million, according to a filing with the U.S. Securities and Exchange Commission earlier this month.

“Caliber will continue to evaluate the timing for the proposed offering as market conditions develop,” the company said in a release Thursday.

U.S. stocks have fluctuated greatly since the beginning of the pandemic, and stalled stimulus talks in Washington and spiking COVID-19 case counts nationwide have created renewed stress for markets, according to analysts.

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