initial public offering

Cummins seeking investors for IPO in stand-alone filtration unit

Cummins Inc. is taking its filtration business on the road to win investors for a $273 million  initial public offering. But when all is said and done, its parent will remain the biggest shareholder by far of Atmus Filtration Technologies.

Atmus is offering 14.1 million shares of common stock. Underwriters get a 30-day option to buy 2.1 million additional shares at the IPO price, expected to be $18 to $21 per share.

The Atmus name, announced in February, is derived from the word atmosphere and is...

https://www.freightwaves.com/news/cummins-seeking-investors-for-ipo-in-stand-alone-filtration-unit

LeeWay Services files for $17M IPO

A white semi-truck is traveling down a road with a blue sky in the background.

Freight brokerage and logistics services provider LeeWay Services Inc. filed with the Securities and Exchange Commission on Monday to raise up to $17 million in an initial public offering.

The Salt Lake City-based company said it plans to be listed on the Nasdaq but hasn’t decided on a ticker yet. ThinkEquity is the sole bookrunner on the deal. LeeWay didn’t disclose any pricing terms.

“LeeWay Services operates a freight brokerage and transportation platform that matches shipper loads with...

https://www.freightwaves.com/news/leeway-services-files-for-17m-ipo

What made the froth in transportation SPACs go flat?

Special purpose acquisition companies targeting startups to take public have not gone away. On the contrary, more than 500 SPACs are currently searching for targets across all sectors. But in almost all cases, SPACs that have completed mergers with transportation companies are performing more like risky investments than they did in 2020. 

What happened?

FreightWaves spoke on background to SPAC experts who agreed to share insights without attribution. They laid out several reasons for the...

https://www.freightwaves.com/news/what-made-the-froth-in-transportation-spacs-go-flat

Rivian files for what could be the 4th-largest IPO of the decade

Rivian files for IPO, electric vehicle maker seeks $80B valuation

Amazon-backed electric vehicle maker Rivian confirmed Friday it has filed paperwork for an initial public offering, aiming to sell on the Nasdaq under the symbol “RIVN.” The placeholder value of the IPO is $100 million. 

The public capital raise is being led by a syndicate that includes power players Morgan Stanley, Goldman Sachs and JP Morgan.

According to the filing, the EV maker is still far from profitable, losing $994 million in the first six months of 2021 and over $1 billion in 2020.

“We...

https://www.freightwaves.com/news/rivian-files-for-what-could-be-the-4th-largest-ipo-of-the-decade

Rivian for the win: Electric-vehicle maker targets $8B IPO windfall

Electric vehicle maker Rivian moves closer to IPO

Electric-vehicle maker Rivian, which is backed by Amazon, Ford and T. Rowe Price, is looking to raise between $5 billion and $8 billion in an initial public offering, Reuters is reporting.

The company filed last month confidentially with the Securities and Exchange Commission for an IPO that could value the company at $80 billion.

“The size and price range for the proposed offering have yet to be determined,” the company said in a statement issued to the media at the time. “The initial public...

https://www.freightwaves.com/news/rivian-for-the-win-electric-vehicle-maker-targets-8b-ipo-windfall

China’s Full Truck digital freight platform pulls back curtain in prospectus

With China’s Full Truck Alliance moving toward an initial public offering in U.S. equity markets, its prospectus is giving potential investors, competitors and potential customers a look into the online logistics’ platform’s finances and business operations.

Full Truck Alliance filed a registration statement last week with the Securities & Exchange Commission for an IPO on a to-be-determined U.S. stock exchange. Reports in other media said the company is seeking to raise $1.5 billion in its...

https://www.freightwaves.com/news/chinas-full-truck-digital-freight-platform-pulls-back-curtain-in-prospectus

Nikola restates SPAC stock warrants following new SEC guidance

Electric truck maker Nikola Corp. (NASDAQ: NKLA) took a paper loss from reclassifying stock warrants as liabilities following stricter guidance from the Securities and Exchange Commission (SEC) on blank check companies merging with pre-revenue startups.

Nikola was an early target last year in what would become a flurry of special purpose acquisition company (SPAC) mergers. With more than 560 SPACs raising more than $184 billion in 2020 and so far this year, the SEC in April expressed...

https://www.freightwaves.com/news/nikola-restates-spac-stock-warrants-following-new-sec-guidance

Taylor Maritime Investments To Float In $250m IPO

  • Taylor Maritime Investments has announced plans to float on the London Stock Exchange in an initial public offering (IPO) looking to raise $250m.
  • The target issue is made up of 250 million new ordinary shares at an initial issue price of $1 per share.
  • The new trust, which was incorporated in Guernsey on 31 March, will invest in a diversified portfolio of vessels, primarily second-hand geared ships.

According to an article published in Investment Week, Taylor Maritime Investments has...

https://mfame.guru/taylor-maritime-investments-to-float-in-250m-ipo/

Blue Yonder submits proposal for IPO

Blue Yonder, a leader in supply chain software, announced Friday it has confidentially submitted a proposed initial public offering (IPO) to the Securities and Exchange Commission. The IPO price and number of shares have not yet been determined.

In March, the company was rumored to be under consideration for acquisition by Panasonic Corp. (OTC:PCRFF), an electronics firm, for $6.45 billion, according to a report by Nikkei Asia. The Japanese company already has a 20% stake in Blue Yonder, which...

https://s29755.pcdn.co/news/blue-yonder-submits-proposal-for-ipo

Self-driving truck technology startup TuSimple nears stock offering

Self-driving truck technology developer TuSimple expects to file a prospectus to sell public stock as soon as next week, according to published reports and people close to the situation.

The company, with offices in San Diego and Beijing, has 50 Level 4 autonomous trucks running paid freight in Southwestern states. Those trucks still have a safety driver who can assume control of the vehicle if necessary. TuSimple is partnering with Navistar International Corp. (NYSE: NAV) to sell a long-haul...

https://www.freightwaves.com/news/self-driving-truck-technology-startup-tusimple-nears-stock-offering

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