8:23 a.m. Dec. 4, 2021
Rivian Stock Ratings Should Arrive This Week. What to Know.
It has been a wild ride for Rivian Automotive investors since the company went public last month. Things could get even wilder.
1:33 p.m. Dec. 3, 2021
U.S.-Listed Chinese Stocks Tumbled. Why the Selloff May Have Been Premature.
Fears that new transparency requirements will provoke a wave of delistings may have been premature given the pace at which the rules will take effect.
11:30 a.m. Dec. 3, 2021
NIO and Its EV Peers Take Hit on Delisting Concerns. Even Tesla Is Impacted.
Shares of U.S.-listed Chinese electric-vehicle producers like NIO and XPeng are getting hammered Friday.
3:47 a.m. Dec. 3, 2021
- By Levi Sumagaysay
After completing richest SPAC deal yet, Grab stock plunges 20% on first day of tradingGrab, which offers ride-hailing, delivery and financial services in Southeast Asia, saw an initial pop on its first day of trading but ended the day in the red.
3:03 a.m. Dec. 3, 2021
China's Didi to Delist from NYSE Months After Blockbuster IPO
After the IPO, China's cybersecurity watchdog launched a probe into Didi to protect national security and the public interest.
2:58 a.m. Dec. 3, 2021
- By Steve Goldstein
What's to blame for lackluster IPOs? Not private equity, one analysis saysIt hasn't a great year for initial public offerings in London. Who, or what, is to blame?
2:25 a.m. Dec. 3, 2021
- By Mike Murphy
Months after massive IPO, China's Didi moves to delist from NYSEChinese ride-hailing giant Didi Global Inc. said late Thursday it plans to delist from the New York Stock Exchange, bowing to pressure from the Chinese government.
1:43 a.m. Dec. 3, 2021
Didi to Delist, FTC Blocks Nvidia’s Purchase of Arm, Zillow Is Selling Homes Faster: Barron’s Daily
FTC sues to block Nvidia’s $40 billion deal for Arm, lawmakers approve stopgap government funding, Google delays required return to office, and other news to start your day.
3:48 a.m. Dec. 2, 2021
- By Chris Matthews
Crypto exchanges 'thought they could throw a fastball' by the SEC, but enforcement is coming, Chairs Gensler, Clayton warnBipartisan agreement is hard to come by in Washington, but there's little daylight between Democrat Gary Gensler and his predecessor as Chairman of the Securities and Exchange Commission, Republican Jay Clayton, on the issue of cryptocurrency regulation.
3:32 a.m. Dec. 2, 2021
- By Wallace Witkowski
GlobalFoundries stock walks back some of big post-IPO gains as Wall Street applauds strong earningsGlobalFoundries Inc. shares walked back some of their 50% in gains since their initial public offering a month ago as a few analysts raised price targets following a strong first earnings report and outlook given the ongoing global chip shortage.
3:27 a.m. Dec. 2, 2021
- By Jeremy C. Owens
Snowflake stock soars after software sales more than doubleSnowflake Inc. sales more than doubled again in the fall, and executives Wednesday raised their expectations for the full year while projecting product revenue could double again in the final quarter of the year, sending shares spiking higher in late trading.
1:43 a.m. Dec. 2, 2021
- By Ciara Linnane
Renewable natural gas company Opal Fuels to go public via merger with SPAC AcrLight in $1.75 billion dealOpal Fuels LLC, a producer of renewable natural gas, said Thursday it is going public via a merger with special purpose acquisition corporation ArcLight Clean Transition Corp. II in a deal with an enterprise value of $1.75 billion. Once the deal closes, Opal will trade on Nasdaq under the new ticker "OPL." Opal will have a total of about $536 million in cash, split between the SPAC's $311 million of cash held in trust, a $125 million private investment in public equity, or PIPE, led by NextEra Energy, an affiliate of ArcLight, Electron Capital Partners, Gunvor Group, Wellington Management and Adage Capital Management, and up to $100 million in a preferred equity investment from affiliates of NextEra Energy. The deal is expected to close in the second quarter of 2022. "RNG (renewable natural gas) is a proven low-cost, low-carbon fuel that when used in transportation in place of diesel fuel can cost 40 to 70 percent less per gallon, providing significant annual operating cost savings while dramatically reducing the carbon footprint of heavy duty fleets," the companies said in a joint statement. Opal was founded in 1998 and is expected to generate almost $170 million in revenue in 2021. The company operates 21 biomethane projects, of which three are in RNG service and the balance in renewable power service.
12:44 p.m. Dec. 1, 2021
SEC Chief Promises Crackdown on Crypto Exchanges
SEC Chairman Gary Gensler, a Democrat, and his Republican predecessor agree that investors need better protection from the trading platforms.
9:01 a.m. Dec. 1, 2021
Nuvectis Pharma Delays Listing as IPO Market Turns Cautious
Biotech company Nuvectis had planned to offer 2.3 million shares at $12 to $14 each.
4:02 a.m. Dec. 1, 2021
Direct Listings Jump. Why This Path to Going Public Is Getting Noticed.
Direct listings number seven so far this year, but that's still more than the total for 2018, 2019, and 2020 combined. Experts talk about the benefits to retail investors.
3:42 a.m. Dec. 1, 2021
- By Ciara Linnane
China's Spark Education withdraws its planned IPOSpark Education Ltd. said Wednesday it is withdrawing its initial public offering registration with the Securities and Exchange Commission citing current market conditions. "In light of the current capital markets condition, the Company is considering other alternatives and has determined not to proceed at this time with the offering and sale of the securities proposed to be covered by the Registration Statement," the company said in a filing. The Chinese company, which offers K-12 after-school tutoring, had applied for an IPO in July with plans to list on Nasdaq. Shortly after, the Chinese government cracked down on after-school tutoring companies.
2:30 a.m. Dec. 1, 2021
- By Levi Sumagaysay
Allbirds beats expectations and touts increased sales, but stock falls after hoursReporting earnings for the first time since IPO, Allbirds said new products and strong demand boosted its third-quarter sales.
7:11 a.m. Nov. 30, 2021
- By Ciara Linnane
Brazilian digital banking platform Nu to offer 289.2 million shares in IPO, priced at $8 to $9 eachBrazilian digital banking platform Nu Holdings Ltd. set terms for its initial public offering on Tuesday, with plans to offer 289.2 million Class A shares, priced at $8 to $9 each. The company is also planning to list Class A shares in the form of Brazilian depositary receipts in Brazil, with each BDR representing 1/6(th) of a Class A ordinary share. The company has applied to list on the New York Stock Exchange, under the ticker 'NU.' Morgan Stanley, Goldman Sachs, Citigroup and Nu Invest Corretora de Valores SA are lead underwriters in a syndicate of 13 banks on the deal. Proceeds will be used for general corporate purposes. The company had a loss of $99.1 million in the nine months through Sept. 30, wider than the loss of $64.4 million posted in the year-earlier period. Revenue roughly doubled to $1.062 billion from $534.6 billion. The Renaissance IPO ETF has gained 0.5% in the year to date, while the S&P 500 has gained 24%.
5:42 a.m. Nov. 30, 2021
- By Steve Gelsi
Cannabis REIT Chicago Atlantic Real Estate Finance sets IPO termsChicago Atlantic Real Estate Finance Inc. said Monday it plans to offer 6.25 million shares at $16 to $18 per share in a bid to raise about $106 million in its upcoming initial public offering. The Chicago-based real estate investment trust in the cannabis sector plans to list its common stock on the Nasdaq Global Market under the symbol "REFI". JMP Securities, Compass Point, Oppenheimer & Co., Lake Street and East West Markets are underwriting the IPO. The REIT is controlled by Chicago credit investing firm Chicago Atlantic Group, LLC.
5:39 a.m. Nov. 30, 2021
Nubank Cuts IPO Valuation Target to $41.5 Billion
The Warren Buffett-backed Brazilian digital lender said Tuesday it would offer roughly 289.2 million shares at $8 to $9 each when it begins trading next week.
2:59 a.m. Nov. 30, 2021
- By Tonya Garcia
Allbirds has big growth potential but competitors like Nike could be a speed bump, analysts sayAnalysts are upbeat about Allbirds as they initiate coverage of the athletic footwear company, but JPMorgan raises the issue of risk from big competitors
1:23 a.m. Nov. 30, 2021
- By Tomi Kilgore
HashiCorp sets IPO terms, looks to raise up to $1.1 billionHashiCorp Inc. has set terms for its initial public offering, in which the California-based cloud adoption software company is looking to raise up to $1.10 billion. The company is offering 15.3 million Class A shares in the IPO, which is expected to price between $68 and $72 a share. With a total of 178.896 million Class A and Class B shares expected to be outstanding after the IPO, the expected pricing could value the company at up to $12.88 billion. The stock is expected to list on the Nasdaq under the ticker symbol "HCP." Morgan Stanley, Goldman Sachs and J.P. Morgan are the lead underwriters. The company recorded a net loss of $62.4 million on revenue of $224.2 million during the nine-month period ended Oct. 31, after a loss of $76.6 million on revenue of $150.0 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF has slipped 2.6% over the past three months while the S&P 500 has gained 2.8%.
11:00 p.m. Nov. 29, 2021
Emerging Market Tech Companies Could Learn From Bungled Indian IPO
In emerging markets, online market share and sales rates from Brazil to Indonesia are a fraction of that in China or developed markets—and that could produce big growth for tech companies.
2:19 p.m. Nov. 29, 2021
Software Provider HashiCorp Aims for $13 Billion IPO Valuation
Enterprise software provider HashiCorp is offering 15.3 million shares at $68 to $72 each.
12:37 p.m. Nov. 29, 2021
- By Claudia Assis
Fresh Vine Wine expects IPO to price between $9 and $10 a shareFresh Grapes LLC has amended its initial public offering, according to a filing Monday. The company, which does business as Fresh Vine Wine, said it expects to offer 2.2 million shares at between $9 and $10 each. The retailer focuses on low carb, low calorie "premium" wines, with actresses Nina Dobrev and Julianne Hough as two of the company's co-founders. Fresh Vine Wine is positioned to take advantage of a growing "better for you" wine trend based on Dobrev and Hough's popularity, the company said in its prospectus. The two women collectively have a following of about 30 million people on their Instagram platforms alone, "actively promote" the company's wines "and we expect that they will continue to do so pursuant to the agreements we have in place with each of them," Fresh Vine Wine said. "We also enjoy support from several other celebrity influencers who have supported our brand without any agreement to do so," the company said. Fresh Vine Wine plans to list its shares on the New York Stock Exchange under the symbol VINE. It listed a loss of $5.99 a share for the first nine months of this year, which compares with a loss of 93 cents for the same period in 2020.
7:44 a.m. Nov. 29, 2021
- By Ciara Linnane
Nuvectis Pharma expected to be sole IPO in U.S. market this weekThe U.S. initial public offering market is expected to see just one deal this week, taking a pause after the shortened holiday week. Last week, there was just one IPO and six SPACs, or special purpose acquisition corporations, which raise money and then acquire a business or businesses. This week's deal comes from Nuvectis Pharma, according to Renaissance Capital, a biotech focused on developing precision medicines for the treatment of serious unmet medical needs in the field of oncology. The company is aiming to raise up to $32.2 million to fund clinical trials of its two product candidates. The company has applied to list on Nasdaq under the ticker "NVCT." ThinkEquity is sold underwriter. The Renaissance IPO ETF has gained 0.1% in the year to date, while the S&P 500 has gained 22%.
6:37 a.m. Nov. 29, 2021
EV Maker Phoenix Motorcar Is Going Public
The manufacturer, which makes electric buses and trucks, has filed to raise $150 million with its IPO.
2:27 a.m. Nov. 29, 2021
- By Steve Gelsi
SPI Energy files IPO for electric vehicle unit, Phoenix MotorPhoenix Motor Inc., an Anaheim, Calif.-based electric vehicle maker and a unit of SPI Energy Co Ltd. , on Monday filed its initial public offering with plans to raise up to $150 million. Phoenix Motor Inc. plans to trade on the Nasdaq under the symbol "PEV" with underwriters Maxim Group LLC, Roth Capital Partners and EF Hutton. The company reported a net loss of $3.4 million and revenue of $4.1 million between Jan. 1, 2020 and Nov. 12, 2020, compared to a net loss of $6 million and revenue of $4 million for calendar year 2019. The company designs, assembles, and integrates electric drive systems and light and medium duty electric vehicles (EVs) and markets and sells electric vehicle chargers for the commercial and residential markets, according to its IPO prospectus. Xiaofeng Denton Peng has been Phoenix Motor's chairman since December, 2020. He has also served as a director and the executive chairman of the board of directors of SPI Energy Co. Ltd., the parent company of Phoenix Motor since 2011. Peng also founded LDK Solar Co. Ltd. in 2005.
4:15 a.m. Nov. 27, 2021
- By Jeff Reeves
These are the six stocks to watch in the red-hot cybersecurity sectorThere's plenty of competition in cybersecurity. But there's also more demand than ever.
2:36 a.m. Nov. 26, 2021
- By Steve Gelsi
Goldman Sachs's private-equity business has been a 'black box,' but now it's opening upKnown more as a marquee investment bank, Goldman Sachs also houses a major private equity business. It's been selling alternative assets off its balance sheet and refocusing on management fees to boost its overall valuation.
5:10 a.m. Nov. 24, 2021
Rivian's IPO Enriched Hedge Fund Third Point
Dan Loeb's hedge fund Third Point has made up to $300 million on its stake in electric-truck startup Rivian, according to The Financial Times. It shows the benefits of being a well-placed institutional investor.
1:57 p.m. Nov. 23, 2021
Verbit Eyes an IPO in Next 18 Months, CEO Says
The AI-powered transcription firm raised $250 million in its latest fundraising round, valuing it at $2 billion just months after it crossed the $1 billion threshold to be called a "unicorn."
1:54 a.m. Nov. 23, 2021
- By Ciara Linnane
Australian biotech Bionomics files for IPO with plans to list on NasdaqBionomics , an Australian clinical-stage biopharmaceutical company specializing in treatments for central nervous system disorders with high unmet needs, filed for an initial public offering on Tuesday. The company is planning to list on Nasdaq under the ticker "BNOX." The company has not yet set terms, but the deal will be underwritten by a team of five banks, led by Evercore ISI, William Blair and Cantor. Proceeds will be used to fund trials of a treatment for social anxiety disorder and post-traumatic stress disorder.
1:20 p.m. Nov. 22, 2021
Authentic Brands Postpones IPO, Sells Stakes to Investors
The company, known for snapping up struggling businesses, is selling stakes in itself to CVC Capital Partners and HPS Investment Partners at a valuation of $12.7 billion.
11:27 a.m. Nov. 22, 2021
Rivian Stock Is Giving Up Its IPO Gains. Blame Ford and Tesla.
Shares of the electric-truck start-up were down about 15% one point on Monday, leaving them about $2 above the opening price seen in their market debut on Nov. 10.
4:40 a.m. Nov. 22, 2021
- By Tonya Garcia
Authentic Brands sells equity stake that values the company at $12.7 billion, puts IPO on holdAuthentic Brands Inc. announced Monday that it has sold an equity stake in the company to CVC Capital Partners and HPS Investment Partners, a deal that values Authentic Brands at $12.7 billion. BlackRock Long Term Private Capital, which has been the company's largest stakeholder since 2019, will continue to hold that position. General Atlantic, Lion Capital and Shaquille O'Neal will also continue to hold significant positions. The transaction is expected to close in December. Authentic Brands is the parent company to Forever 21 and Nine West, and holds the brand name and rights to icons like Marilyn Monroe and Elvis Presley. Authentic Brands had , but, with this deal, the company has decided to shelve the IPO. "I think we would have gotten a massive valuation ... maybe even more than what we sold the business for. But guess what? I'd rather be private," said Chief Executive Jamie Salter in a . The Renaissance IPO ETF is up 3.7% for the year to date while the S&P 500 index has gained 25.7% for the period.
10:44 a.m. Nov. 20, 2021
- By Michael Brush
This fund company was an early believer in Tesla — it's now making these betsBaron funds took big stakes in Nvidia, Sea, Shopify and other companies in the third quarter.
9:13 a.m. Nov. 20, 2021
Durational’s Buyout of Casper Is Hardly a Win for Shareholders
Durational’s buyout of mattress company Casper is a reminder that economics usually win out. And Casper’s were challenged, to say the least.
3:46 a.m. Nov. 20, 2021
- By Philip van Doorn
Weekend reads: After bitcoin's awful week, where will it go next?Also, cybersecurity and semiconductor stock picks, and an interview with ARK Invest CEO on crypto, Ford, GM and the bull market.
11:39 a.m. Nov. 19, 2021
Snow Lake Resources Gains 73%, While FinWise Bancorp Rises in IPOs
Snow Lake Resources collected $24 million, while FinWise Bancorp raised about $37 million with its IPO.