‘No excuses’: Top sports retailer loses $100M in IPO fight

Israel’s Top Sports Retailer Bovada has lost its bid to raise as much as $100 million in an IPO, but it remains open to new investor partners.

The Jerusalem Post reported Wednesday that the Israel-based company has failed to raise enough money to cover a valuation that it had sought to raise between $1 billion and $2 billion, in addition to debt and equity financing.

The newspaper reported that the company has been forced to shut down in the wake of the deal, as it is no longer able to continue to operate its existing business, as well as to expand into new markets.

The loss of the IPO means that Bovadat will have to find an alternative revenue source to cover the loss of profits, the newspaper said.

It said that it is still considering a sale to a foreign company.

Bovada, which has been operating under a series of brand new brand names, lost a bid in March 2016 to raise up to $2.3 billion.

It was seeking an additional $1.7 billion in the IPO, which was scheduled to close on April 20.

It had already announced that it would close its doors on May 9 and is currently preparing for a shutdown in the future.