IPO

Freightos agrees to SPAC merger, reveals FedEx and Qatar Airways investments

Shipping boxes and a glass globe on a keyboard signifying digital trade.

Freightos, a fast-growing ocean and air freight marketplace similar to Expedia in air travel, announced late Tuesday it is going public through a merger with Gersher Acquisition Company.

The company will be listed on the NASDAQ exchange under the ticker symbol FROS.

The Freightos SPAC will have a pro forma enterprise value of approximately $435 million and could generate up to $166 million, although realized cash could be a quarter of that amount depending on the extent of Gersher’s pre-merger...

https://www.freightwaves.com/news/freightos-agrees-to-spac-merger-reveals-fedex-and-qatar-airways-investments

Electric work truck startup Atlis attracts $32.6M from nearly 29,000 investors

A three-quarters view of the flat-floor electric chassis that makes up the Atlis XP platform sitting in desert scrub

Atlis Motor Vehicles is trying to disrupt the electric work truck market by developing its own chassis and the batteries and motors to drive it. 

And it is taking a disruptive path to becoming a public company.

About 29,000 investors have purchased $32.6 million in private shares of the Mesa, Arizona-based company. Atlis holds the ticker symbol AMV on the Nasdaq Global Market. And that’s where the shares will trade when the listing is activated sometime in the next few months. 

The interior of the...

https://www.freightwaves.com/news/electric-work-truck-startup-taps-small-investors-for-32-6m

Instacart files for IPO, but should it?

Woman wearing Instacart shirt reaches for vegetables in a grocery store aisle.

Instacart said late Wednesday night that it had filed a Form S-1 with the Securities and Exchange Commission for a possible initial public offering.

According to Bloomberg, the delivery firm is working with Goldman Sachs and J.P. Morgan on the possible offering, which Instacart said is not a definitive choice as of yet.

An IPO was rumored last year, although there was some speculation that Instacart would forgo the traditional IPO route and go the direct listing route instead. In a direct...

https://www.freightwaves.com/news/grocery-delivery-firm-instacart-files-for-ipo

Blue Yonder would be centerpiece of Panasonic’s supply chain business IPO

Two men on stage

Panasonic Holdings Corp. announced on Wednesday its intention to spin off its supply chain management (SCM) business through an initial public offering.

The new company, should the IPO be consummated, will be centered around Blue Yonder, the U.S-based software-as-a-service company that Osaka, Japan-based Panasonic purchased last year for more than $7 billion. In a statement, Panasonic said it has not made a final decision as to a listing and on which exchange the IPO should go forward.

Panasonic (

https://www.freightwaves.com/news/panasonic-plans-ipo-of-supply-chain-business

Cummins files confidential registration to take filtration unit public

Cummins signage outside headquarters

Cummins Inc. has filed a confidential registration to sell shares in its filtration business through an initial public offering as it focuses on its pending $3.7 billion purchase of Meritor Inc.

The spinoff of the $1.2 billion filtration business into a separate company became public as part of the second-quarter 2021 earnings report. The filtration business dates to 1958. It offers products for on-highway, heavy-, medium- and light-duty trucks, off-highway industrial equipment, and power...

https://www.freightwaves.com/news/cummins-files-confidential-registration-to-take-filtration-unit-public

Gopuff plans to lay off hundreds of employees ahead of potential IPO

Instant delivery company Gopuff, which delivers food, grocery and alcohol within 30 minutes, is planning to lay off 3% of its approximately 15,000-strong workforce.

Instant delivery company Gopuff, which delivers food, groceries and alcohol to customers within 30 minutes, plans to lay off several hundred employees, according to The Information.

The planned reduction of 3% of Gopuff’s workforce comes after the company implemented a hiring freeze earlier this month and dealt with the resignations of several key executives, The Information reported. According to a source who was briefed about the move, the cuts are part of the company’s effort to shave down...

https://www.freightwaves.com/news/gopuff-plans-to-lay-off-hundreds-of-employees-ahead-of-potential-ipo

Q&A: Project44 COO ready to help fine-tune world’s ‘economic engine’

A month after announcing a $240 million investment led by TPG, Thoma Bravo and Goldman Sachs, real-time visibility provider project44 announced Vivek Kundra would become the company’s chief operating officer, leveraging experience that includes leading the country’s technology initiatives.

Related: Former Obama official Kundra named COO at project44

In an interview with FreightWaves, Kundra explained his fascination with supply chains, his past work with customer experience management software...

https://www.freightwaves.com/news/qa-project44-coo-ready-to-help-fine-tune-worlds-economic-engine

GoPuff raises $1.5 billion in anticipation of 2022 IPO

Gopuff has raised $1.5 billion as it gears up for a 2022 IPO

As a FreightWaves story opined in May, it’s time the logistics industry took notice of Gopuff. Well, it has, and so have investors.

According to a securities filing in Delaware first flagged by Prime Unicorn Index, the instant delivery company backed by SoftBank, Fidelity Management and Research Co. and Blackstone Group has raised $1.5 billion in what’s being called a series X raise, which could push its valuation as high as $40 billion, Axios reported. Multiple reports suggest the raise is...

https://www.freightwaves.com/news/gopuff-raises-1-5-billion-in-anticipation-of-2022-ipo

Q&A: Samsara’s journey from the cloud to the Street

Samsara, a developer of the connected operations cloud, raised $805 million in its initial public offering Wednesday after pricing shares at $23 each, the top of the proposed range.

Shares began trading on the New York Stock Exchange under the ticker symbol IOT. The company’s valuation is around $11.5 billion. 

Underwriters have the option to buy an additional 5.25 million shares, equaling $120.75 million in gross value.

San Francisco-based Samsara provides a connected cloud to modernize physical...

https://www.freightwaves.com/news/inqa-samsara-journies-from-the-cloud-to-the-street

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