Instacart goes from supermarket to stock market, raising $660M with IPO
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.
Initial Public Offerings
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Andretti special purpose acquisition company to merge with Boston-based AI startup
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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Indy-based smart mailbox startup prepping for public offering
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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Cummins files for IPO for filtration business spinoff
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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Cummins to spin off filtration business into separate public company
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.
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Articles
Carmel-based Syra Health cuts IPO expectations by one-third
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.
Carmel startup NeurAxis raises $6.6M in IPO, less than half of its original forecast
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.
Stock market gains help pave way for IPO resurgence
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.
Carmel startup Syra Health files to go public
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.
Cummins filtration business targets $341M in IPO
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.
Medical-device company to raise about $15M in IPO
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.
Laikin’s Indy-based Novus Capital II closes merger with California energy-storage firm
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.
Michael Andretti’s company makes $200M initial public offering
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.”
Indianapolis investing group bets big on renewable energy
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.
Allison Transmission to invest $42M in Chinese company’s public offering
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.
Once-hot SPAC investments return to earth
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.
Tech exec Bostic seeks $200M to buy lucrative health tech disruptors
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.
Authentic Brands, owner of Forever 21 and Brooks Brothers, files for IPO
Indianapolis-based Simon Property Group Inc. is among Authentic Brands Group’s largest shareholders.
Health equipment biz Apria moves HQ to Indy, lists stock with IPO
Apria Inc., one of the nation’s largest providers of home health equipment and services, began listing shares Thursday morning on the Nasdaq exchange.
Laikin’s second SPAC IPO has strong trading debut
Novus Capital Corp. II raised $250 million, capital it plans to plow into the purchase of a company or companies in the “smart technology innovations” market.
Simon Property seeks to raise $300M with blank check company filing
Simon Property Chairman and CEO David Simon will serve as chairman of the special purpose acquisition company. His 33-year-old son, Eli Simon, senior vice president of corporate investments at Simon Property, will be its CEO.
SPACs sound arcane, but make buckets of money for Indy investors
A nontraditional way to take companies public is booming on Wall Street, leading to an unprecedented explosion of deals.
High-tech indoor farmer AppHarvest starts shipping tomatoes
AppHarvest—an indoor farming company backed by Indianapolis-based Novus Capital Corp. and celebrity Martha Stewart—thinks the agriculture sector is ripe for disruption. And now, its tomatoes are ripe for eating.
Petco goes public again as spending on dogs, cats soars
It’s the third time Petco has gone public since it was founded in 1965 as a mail-order veterinary supplies business. Both times Petco was bought and taken private, most recently in 2006.