Gravitics (GVTX.US), an orbital system developer, sets IPO price at $14-17 per share, fundraising scale reduced by 60% to $50 million.

Gravitics Holdings, a company focused on large-scale space structures and orbital system development, lowered the size of its proposed initial public offering (IPO) on Tuesday, according to reports by Zhitong Finance APP. The company now plans to offer 3.2 million shares at $14 to $17 each, aiming to raise $50 million. Previously, filings showed plans to offer 8.1 million shares at the same price range. The latest proposed fundraising amount is down 60% from before.