G Squared

Transfix looks to raise Series F with 60% devaluation, source suggests

The weak freight market has taken its toll on FreightTech valuations.

FreightWaves late Monday obtained a release showing digital freight marketplace Transfix is looking to raise a $50 million Series F at a $376 million valuation, a 60% reduction from the $940 million the New York City-based company was valued at in its last funding round in March 2020. A source attributed the valuation drop to “largely market forces.”

Transfix reportedly has secured $30 million in financing from New Enterprise...

https://www.freightwaves.com/news/transfix-looks-to-raise-series-f-with-60-devaluation-source-suggests

Transfix pulls IPO, new private funding round planned

A yellow tractor pulling a white trailer on the highway

Digital freight broker Transfix has announced it will remain a private company. It has terminated a business combination agreement with G Squared Ascend I, ending a planned initial public offering.

In June, the public listing was pushed back to November due to deteriorating public market conditions.

A public listing through a special purpose acquisition company combination was expected to fetch an enterprise value of as much as $1.1 billion. As broader stock markets have rolled over, interest in...

https://www.freightwaves.com/news/transfix-pulls-ipo-new-private-funding-round-planned

Transfix announces SPAC plans with investor G Squared

On Tuesday, digital freight platform Transfix announced it has reached an agreement with special purpose acquisition company G Squared Ascend I Inc., sponsored by affiliates of venture capital fund G Squared, to go public under the New York Stock Exchange ticker symbol TF.

The transaction is expected to close by the end of Q1 2022, with a total implied pro forma enterprise value for Transfix of $1.1 billion and approximately $375 million in cash net of transaction expenses if there are no...

https://www.freightwaves.com/news/transfix-announces-spac-plans-with-investor-g-squared