IPOs

Cold storage REIT Lineage IPO hauls in $4.4B

This story has been updated.

Temperature-controlled logistics real estate investment trust Lineage Inc. said nearly 57 million shares of its common stock were priced at $78 per share ahead of its initial public offering on Thursday. The deal will haul in roughly $4.4 billion in proceeds, better than the $3.4 billion to $3.9 billion range previously expected.

A 30-day option for a 15% allotment (a little more than 8.5 million shares) has been granted to underwriters. The company said it will use...

https://www.freightwaves.com/news/cold-storage-reit-lineage-ipo-hauls-in-4-4b

Instacart reportedly slashes internal valuation by 20% to $10B

Grocery delivery platform Instacart started 2022 with a valuation of nearly $40 billion. Now, according to a report by The Information, it may close the year valued at just $10 billion.

Two people reported to be familiar with the situation told The Information that Instacart, which had been slated to launch an initial public offering this year and is now expected to go public next year, has cut its internal valuation to around $10 billion. That would represent a 20% decline off its previous...

https://www.freightwaves.com/news/instacart-reportedly-slashes-internal-valuation-by-20-to-10b

Locus Robotics raises $117M, eyes IPO

googletag.cmd.push(function() { var gptSlot = googletag.defineSlot(‘/21776187881/FW-Responsive-Main_Content-Slot1’, [[728, 90], [468, 60], [300, 100], [320, 50]], ‘div-gpt-ad-b1-i-fw-ad-1’).defineSizeMapping(gptSizeMaps.banner1).setCollapseEmptyDiv(true).addService(googletag.pubads());
gptAdSlots.push(gptSlot);
});

googletag.cmd.push(function() { googletag.display(‘div-gpt-ad-b1-i-fw-ad-1’); });

One of the leading disruptors in the emerging warehouse automation industry is on the verge of going...

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

Need outdoor furniture, electronics or office supplies? Instacart delivers

Instacart grocery delivery shopper

With football season just around the corner, plenty of households will be turning to grocery delivery services to order hot dogs, chips, soda and all the fixings straight to their doorstep. 

But what if, through those very same apps, you could have the entire tailgate delivered — portable grills, tents, lawn chairs or even a flat-screen TV?

That’s exactly what Instacart has in mind with the launch of its “Big & Bulky” fulfillment option, which the company announced on Wednesday. Nationwide,...

https://www.freightwaves.com/news/need-outdoor-furniture-electronics-or-office-supplies-instacart-delivers

Shipping tech provider EasyPost partners with last-mile firm Swyft

last mile delivery van shipping technology

If you’re a fan of cycling, Formula One or college football, you may be familiar with EasyPost.

The shipping technology company sponsors teams in each of the former two sports, and it even managed to get its name attached to college football’s Hawaii Bowl. Now, the growing company is looking to make a bigger name for itself in the arena of transportation and logistics.

Lehi, Utah-based EasyPost and last-mile solutions provider Swyft on Wednesday announced a partnership that allows shippers in...

https://www.freightwaves.com/news/shipping-tech-provider-easypost-partners-with-last-mile-firm-swyft

Truck Tech: SPAC ‘stonks’ edition

Wanna buy SPAC-backed electrification and autonomous stocks? They are cheap, but have they hit bottom yet? A new Morning Consult poll shows autonomy has significant trust issues to overcome, and try as we might, we just can’t miss the bus when it comes to electrification.

Wanna buy my (SPAC) stonks?

It’s hard to find many stocks moving up against headwinds of rising inflation, war in Ukraine, and the coming and going — and coming again — of COVID variants.

But the beatdown of electric vehicle and...

https://www.freightwaves.com/news/truck-tech-spac-stonks-edition

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

+ More