Consonus Technologies, an information technology services provider, has halved its projected public offering of stock.
Consonus, which is the result of a merger between Cary-based Strategic Technologies and Utah-based Consonus in January 2007, cut its initial public offering of shares to 3 million from 6 million, according to the Associated Press and Reuters.
However, Consonus did raise its target share price to between $8 and $10 from an original target of $7 to $9.
Consonus had hoped to raise as much as $42 million, but now looks to raise around $21 million after expenses.
The company reported a loss of $7.1 million on revenues of $25 million for the first quarter of this year.
