All articles tagged with #public offering
The market anticipates SpaceX, OpenAI, and Anthropic to go public this year, with valuations of $800 billion, $500 billion, and $350 billion respectively, but there is uncertainty about whether investors will be willing to pay these high prices.
Strava, a popular fitness and social app with 150 million users and valued at $2.2 billion, is planning to go public as early as 2026, with major banks involved in the process. The move towards an IPO suggests potential changes in monetization and user engagement, raising questions about future platform development and user experience.
President Trump is considering a public offering of Fannie Mae and Freddie Mac, potentially valuing them at $500 billion and selling 5-15% of their stock, with ongoing debates about their conservatorship status and legal implications.
Billionaire Patrick Soon-Shiong plans to take the Los Angeles Times public within the next year, aiming to democratize ownership and restore trust in journalism amid ongoing financial struggles and staff conflicts.
Hedge funds, notably Pershing Square Capital led by Bill Ackman, are poised to profit from a potential public offering of Fannie Mae and Freddie Mac, which could significantly impact the US mortgage market by potentially increasing mortgage rates and affecting housing affordability. The move, supported by some investors but opposed by others and policymakers, involves complex financial and political considerations, including the risk of destabilizing a crucial part of the US housing finance system.
TGI Fridays and its U.K. franchisee, Hostmore, have announced plans to merge in an all-share deal valued at $220 million, which will take the chain public on the London Stock Exchange under the ticker "TGIF." The merger aims to increase corporate-owned restaurant locations and provide capital for global expansion, with the new company set to own 189 restaurants in the U.S. and the U.K. If approved, the merger is expected to close in the third quarter, marking a significant development for the casual-dining chain after a failed attempt to go public in 2019.
Medical Properties Trust shares surged 13.1% in pre-market trading after selling its majority interest in Utah Hospitals, while other stocks such as Allarity Therapeutics, Longeveron Inc., SuperCom Ltd., HUB Cyber Security Ltd., and Piedmont Lithium Inc. also experienced significant movements. On the downside, stocks like AudioEye, NextPlat Corp, Organovo Holdings Inc, TRACON Pharmaceuticals Inc, and IM Cannabis Corp saw declines in pre-market trading. LendingClub Corporation is expected to report earnings for the first quarter of 2024 after the closing bell on Tuesday.
Trump Media's cofounders, Litinsky and Moss, were limited to economy flights and lodging under $150 per night as they attempted to establish the former president's media empire. The company, valued at nearly $7 billion, is facing lawsuits from the cofounders and attempting to claw back shares from them, alleging their failure to meet expectations. Despite the company's valuation, its financial performance has been poor, with minimal revenue and significant losses, leading to a substantial decline in Trump's net worth.
Super Micro Computer Inc. plans to sell 2 million shares of common stock in a public offering, aiming to raise up to $2 billion after its stock surged nearly 1,000% in the past year, reaching a $56 billion market cap and earning a spot in the S&P 500 Index.
Beamr Imaging Ltd. has announced the pricing of a $12 million underwritten public offering of 1,714,200 ordinary shares at a price of $7.00 per share, with the intention of using the net proceeds for research and development, sales and marketing activities, cloud operating costs, and general corporate purposes. The offering is expected to close on February 15, 2024, and ThinkEquity is acting as the sole book-running manager for the offering.
Panbela Therapeutics shares plummeted by 65.5% after announcing a $9 million public offering, while other stocks experienced significant movement during Monday's mid-day session, with Palisade Bio, Inc. and OneMedNet Corporation among the gainers, and SMX (Security Matters) Public Limited Company and Inspire Veterinary Partners, Inc. among the losers.
With the IPO market becoming increasingly critical due to government scrutiny on Big Tech acquisitions, startups may have limited exit options, making Reddit's potential IPO valuation crucial. Reddit must carefully price its offering to avoid appearing artificially low or overvalued, as both scenarios could impact post-IPO performance and public market confidence. The success of Reddit's IPO could influence other tech companies' decisions to go public, as seen with Instacart's post-IPO trading performance.
Reddit is reportedly planning to launch its IPO in March, aiming to sell around 10% of its shares and considering a valuation of up to $15 billion. The company had previously submitted a draft registration statement in December 2021 but did not proceed with the IPO. Reddit's IPO plans have been delayed due to market uncertainty and its lack of profitability, but it is now working with Morgan Stanley and Goldman Sachs to go public.
Cancer biotech company Nuvalent has announced a $300 million public offering of its common stock following positive Phase I results for its ALK-selective tyrosine kinase inhibitor candidate, NVL-655, in ALK-positive non-small cell lung cancer patients, with a 39% objective response rate observed in evaluable patients.
Instacart has priced its initial public offering (IPO) at $30 per share, raising $660 million and valuing the company at $9.9 billion. This is significantly below its last private fundraising round in 2021, which valued the company at $39 billion. The successful IPO could give hope to other companies seeking to tap the public markets, as it follows a period of low IPO activity. Instacart's path to the public market has been closely watched, and a positive reception could encourage more companies to raise money through IPOs. Despite facing challenges, such as a slowdown in growth, Instacart has managed to turn a profit by expanding into more profitable businesses.