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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The prospectus does not put a dollar figure on the amount Elon Musk hopes to raise, but various reports have put it at $75 billion or so.
His rocket venture, SpaceX, announced on Monday that it had bought xAI in an effort to help the world’s richest man dominate the rocket and artificial intelligence businesses.
Clinical-stage biotechnology company Aktis Oncology increased the size of its initial public offering by 50% and drew interest from Indianapolis-based Lilly for $100 million of shares in the listing.
The long-awaited return of IPO activity this year minted 21 new billionaires, but what came after many companies’ eye-popping debuts was often a different story.
Susan Orr and The Carmel-based regional airliner had been a publicly traded company until April 2017, when it emerged from Chapter 11 bankruptcy as a privately held company.
The IPO market is on track for its best year since 2021, according to Renaissance Capital.
Klarna sold 34.3 million shares to investors at $40 a share late Tuesday. That’s above the forecasted range of $35 to $37 a share and values the company at more than $15 billion.
Syra Health Corp. plans to offer stock on the over-the-counter market after the company failed to meet Nasdaq Stock Market’s price requirements for its shares.
The U.S. has seen a slowness in debuts over the past three years despite a strong backdrop for IPOs, with major stock indexes trading near record highs.
The five-year-old company is developing treatments for endocrine and metabolic disorders, such as hypoparathyroidism, post-bariatric hypoglycemia and obesity. Its positive reception on Wall Street was seen as an extension of the general enthusiasm for obesity treatments.
Andretti Acquisition Corp. II is a special purpose acquisition company (often called a blank-check company), or SPAC, formed with the intent of acquiring another company and taking it public.
Four-year-old Novusterra Inc. is planning an initial public offering within 90 days and hopes to be approved to trade on the OTCQB Venture Market, often used by companies that are still developing.
The five-year-old, clinical-stage drugmaker has already raised more than $213 million to develop therapeutics to treat rare endocrine disorders, a huge amount for a startup.
If 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.
