What evidence do you have that there was no demand for the shares? (other than speculation on Twitter). It could also very well have been that the stock is down substantially from where they issued the S-1. If their bankers were floating them the idea that they already had a "bought deal" lined up for them, and then the stock drops 30-35% from original price, I don't blame management for yanking this deal.
You could be right about the demand issue, but it could also be a banking issue as well.
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