Andretti Acquisition Corp., a blank-check company that was formed last year, announced Wednesday that it plans to merge with Boston-based startup Zapata AI.
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Arrive CEO Dan O’Toole said he is targeting early 2024 to make the initial public offering. The company has secured the ticker symbol ARRV.
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Spinoff Atmus Filtration Technologies was originally founded in 1958 as the Seymour Filtration Co., based in Seymour, Indiana, with a single filter production line to support Cummins diesel engines.
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Columbus-based Cummins has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering for its filtration business. Cummins announced last summer that it was looking at “strategic alternatives” for the business.
Read MoreIf Andretti Acquisition Corp.’s shareholders approve the merger, the deal is expected to close shortly after the vote, and shares of the combined company will begin trading on the New York Stock Exchange.
The signs of life shown by the IPO market, especially in the second half of the year, are giving analysts hope that more companies will be enticed to go public in 2024.
The company was formed only three years ago and went public on Sept. 29 in an initial public offering that raised $5.3 million after expenses.
Syra Health Corp., a Carmel-based health care services company, raised $5.3 million after expenses in its initial public offering. But it faces a slew of challenges, from winning new customers to launching products and services quickly to stem losses.
The company said it would raise $6.7 million in gross proceeds, exceeding expectations from earlier this month.
The pricing of the IPO gave Instacart a market value of around $10 billion, significantly lower than the $39 billion value placed on it after a fundraising round in 2021.
The two-year-old startup that provides professional services in the health care and life science industries has sharply cut how much it expects to raise in its upcoming initial public offering.
The company, which is developing electrical-nerve stimulation therapies for children, went public this month at an initial price of $6 a share—lower than the range of $7 to $9 a share it announced in February.
The rebound in IPOs is being fueled by a stock market rally that has the S&P 500 up about 19% so far this year, a sharp reversal from last year’s 19.4% loss.
Officials of the two-year-old firm that provides professional services in the health care and life science industries expect the offering to raise up to $8 million.
In April 2022, Cummins announced plans to spin off the business, then known as Cummins Filtration, which provides filtration products for trucks, off-highway industrial equipment and power generation systems.
Neuraxis Inc., based in Versailles and with an office in Carmel, said it will use the proceeds to ramp up its sales and marketing efforts, along with research and development and other functions.
Novus Capital Corp. II announced in September it would merge with Energy Vault in a deal that would take the 4-year-old company public. The transaction gives Energy Vault an immediate cash infusion of $355 million.
Andretti Acquisition Corp. is a special purpose acquisition company, often referred to as a SPAC or blank-check company, that “seeks to focus on opportunities that can benefit from the iconic Andretti brand name.”
A blank-check company, or SPAC, plans to close early next year on a merger with California-based Energy Vault that will take the company public and give it a cash infusion of $388 million.
Indianapolis-based Allison, which recently formed a partnership with Beijing-based Jing-Jin Electric, announced Wednesday that it will participate in Jing-Jin’s upcoming initial public offering.
Not only are fewer SPACs going public through IPOs, the ones already in the market and still hunting for targets have seen their share prices drop.
Bradley Bostic is aiming to raise the funds through a new “blank check company,” called Future Health ESG, that will hold its initial public offering in coming weeks.
Indianapolis-based Simon Property Group Inc. is among Authentic Brands Group’s largest shareholders.
Apria Inc., one of the nation’s largest providers of home health equipment and services, began listing shares Thursday morning on the Nasdaq exchange.
