The Zhitong Finance App learned that Gravitics Holdings, which focuses on the development of large-scale spatial structures and orbital systems, lowered the proposed transaction size for its upcoming initial public offering (IPO) on Tuesday. The company currently plans to issue 3.2 million shares at $14-17 and raise $50 million. Earlier, documents submitted by the company showed that it plans to issue 8.1 million shares in the same issue price range. The size of the latest proposed funding is down 60% from the previous one.

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