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Private Equity Firms Seize on IPO Boom With Consumer Assets

From Bloomberg: Private equity firms are refusing to be left out of the initial public offering boom. With technology IPOs sometimes doubling on day one, buyout shops are hoping to capture some of the buzz for their less sexy, slower growth and higher leverage assets. Two private equity-backed companies went public on U.S. exchanges this[…]

SoFi to Go Public Through SPAC Merger at $8.6B Valuation

From Business Wire SoFi, A Leading Next-Generation Financial Services Platform, to Become Publicly-traded via Merger with Social Capital Hedosophia SoFi’s mission is to help people achieve financial independence by getting their money right, providing access to a comprehensive suite of services in a single app that empowers members to borrow, save, spend, invest and protect[…]

SoftBank-backed online lender SoFi eyes IPO

From The Real Deal: Online lender Social Finance, or SoFi, is the latest SoftBank-backed startup to eye a public offering through a blank-check company. The San Francisco-based company has held talks with several special purpose acquisition companies about an IPO, reported CNBC. SoFi did not comment. CEO Anthony Noto, a former Goldman Sachs banker, has previously said that going[…]

UiPath Says It Filed Confidentially for IPO, Could Be Valued at More Than $20 Billion

From Bloomberg: UiPath Inc., an automation software maker that could be valued at more than $20 billion, said it has filed confidentially for an initial public offering. The size and price of the offering hasn’t been determined yet, UiPath said in a statement Thursday confirming an earlier report by Bloomberg. The IPO could come in the first[…]

Coinbase Files For IPO After CEO Issues Warning To Crypto Newbies

From Zero Hedge: With Bitcoin soaring to new record highs and institutional interest accelerating, the world’s best known cryptocurrency exchange – Coinbase Global – has announced that it has begun the process for an IPO. San Francisco-based Coinbase Global said it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission. The[…]

Airbnb Stock Closes at $144 After Pricing IPO at $68 a Share

From Barron’s Airbnb ended up raising $3.5 billion, in one of the most anticipated initial public offerings of the year. The home-sharing network sold 51,551,723 Class A shares at $68 each, a person familiar with the situation said. This implies a market cap of $47 billion. The $68 price is above the $56 to $60 price range the[…]

Airbnb Joins DoorDash By Boosting IPO Price Amid Year-End Deal Frenzy

From Zero Hedge: As tourism and hospitality-related industries tumble into bankruptcy one after the other as the government money runs out and revenues dry up thanks to the pandemic, Airbnb – the sharing economy pioneer that has managed to shift its focus to offering ‘staycation’-type arrangements for high-strung professionals looking to take a little break[…]

Ant Group prices IPO at HK$80 per share to give it market cap of $310 billion

From Market Watch: Ant Group, the Chinese financial-technology juggernaut, priced its initial public offering at HK$80 per share, the company said on Monday. Its shares will start trading on Nov. 5. That gives the company a market cap of HK$2.43 trillion ($310 billion), the company said. It’s also listing in Shanghai. See the filing/release: 2020102600165

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Hyliion Electric Truck SPAC Mints 28 Year Old Billionaire CEO

From Zero Hedge: Arising out of the smoke and rubble of Nikola’s recent battle with short sellers, one electric truck company has casually made its way onto the public markets via a SPAC, making its 28 year old founder a billionaire in the process. Does it feel enough like 1999 yet? “We were fortunate on[…]

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SNOW Flakes After Record Software IPO

From Zero Hedge: Update (1300ET): After soaring from its post-IPO open at $245 to $319, SNOW has erased all its post-open gains and is back below $245… *  *  * The much-hyped IPO of the aptly-named ‘Snowflake’ is about to make many of America’s richest even richer-erer. It sold 28 million shares Tuesday for $120 apiece, above[…]