Stock offering

Nikola shares plunge to all-time low after $100M stock offering

Nikola Corp. filed a $100 million public offering of company stock. with a private buyer agreeing to buy shares the company cannot sell.

Investors drove shares in the electric truck and hydrogen fuel startup to an all-time low in after-hours trading Thursday. Nikola trades on the Nasdaq under the symbol NKLA.

Nikola starved for operating cash

Starved for cash, Nikola plans to produce hydrogen-powered fuel cell electric trucks (FCEVs) for sale in the fourth quarter. The company said Wednesday it...

https://www.freightwaves.com/news/nikola-shares-plunge-to-all-time-low-after-100m-stock-offering

Cargojet raises $268M to help pay for seven new freighters

White cargo jet with blue tail sitting in front of cargo hangar. View from above in plane taking off.

Ontario-based all-cargo carrier Cargojet (TSX: CJT) announced Monday it raised CA$350.2 million ($268 million) through a stock offer to fund an aggressive fleet expansion. 

The company is investing in more aircraft and buildings to take advantage of a dramatic increase in domestic e-commerce activity and strong demand for international air cargo service spurred by the coronavirus pandemic, which has altered consumption and inventory patterns.

Cargojet said it intends to use a large portion of the...

https://www.freightwaves.com/news/cargojet-raises-268m-to-help-pay-for-seven-new-freighters

TFI share offering could add $200 million to M&A war chest

A tractor-trailer of TfI International's CFI. TFI could raise more than $200 million from a share offering.

TFI International (NYSE:TFII) plans to sell 4 million shares of common stock in an offering that could raise more than $200 million, which could fuel potential acquisitions. 

Canada-based TFI announced the share offering on Tuesday. The company said it will use the proceeds for working capital and to pay down a credit facility that it may use for “for general corporate purposes, including acquisitions.”

TFI has been active on the acquisition front in recent months. The company has made four...

https://s29755.pcdn.co/news/tfi-share-offering-could-add-200-million-to-mampa-war-chest

TravelCenters of America reprices shares lower, but stock falls again

TravelCenters of America at night

TravelCenters of America (NASDAQ: TA) cut the price of its public offering of new shares by more than a third to $14, but its stock price fell again Wednesday, closing below the new asking price.

TA shares closed Wednesday at $13.59, down $1.81 or 11.75% on the NASDAQ.

Westlake, Ohio-based TA planned to sell $75 million worth of shares of new stock at $21.88, the closing price last Friday. But shares cratered on Monday, falling nearly 22%.  

The operator of 263 travel plazas and truck stops in 44...

https://www.freightwaves.com/news/travelcenters-of-america-reprices-shares-lower-but-stock-falls-again

TravelCenters of America stock flops on new $75 million offering

TA sign

Jon Pertchik’s high-energy efforts to turn around TravelCenters of America (NASDAQ: TA) continued Monday with a $75 million offering of new stock, but shares plummeted nearly 24% below the asking price during the trading day.

In a U.S. Securities and Exchange Commission (SEC) filing, the operator of 263 full-service travel plazas and truck stops offered slightly more than 3.4 million new shares at $21.88 a share, the closing price on Friday. 

In a separate SEC filing on Friday, TA raised its...

https://www.freightwaves.com/news/travelcenters-of-america-stock-flops-on-new-75-million-offering

Air Canada raises $750 billion to boost liquidity

Big white Air Canada jet on runway.

Air Canada (TSX:AC) late Tuesday announced it is raising more than $750  million in working capital through the sale of CA$500 million ($357.5 million) of stock and a private placement of $400 million in bonds.

The development came the same day as the International Air Transport Association warned that airlines could eventually fail because of debt loads they are taking on to support operations. The coronavirus pandemic has caused drastic declines in airline earnings and cash as people stay home...

https://s29755.pcdn.co/news/air-canada-raises-$750-billion-to-boost-liquidity