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.
Initial Public Offerings
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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.
Group led by ex-Brightpoint CEO launches 2nd, and bigger, blank check company
Novus Capital Corp II, a SPAC targeting businesses enabling smart technology evolution, filed Wednesday with the Securities and Exchange Commission to raise up to $250 million in an initial public offering.
Blockbuster IPO market still calls for cautious approach
Wall Street has rolled out the welcome mat for companies going public this year, boosting proceeds from initial public offerings to the highest level in six years.
DoorDash, Wish, Affirm join Airbnb to fuel year-end IPO boom
Initial Public Offering advisers are expecting to see a record amount of listing activity during the period between the U.S. Thanksgiving and Christmas holidays.
Ex-Brightpoint execs plan IPO to raise $100M for new tech firm
Novus Capital Corp. formed last month and is seeking to acquire companies “that are at the forefront of high technology.”
UPDATE: Lyft’s shares soar as investors bet on ride-hailing future
Lyft’s IPO raised more than $2 billion to use in its heated competition with Uber to woo riders. Uber is expected to make an even bigger splash when it completes its IPO later this year.
UPDATE: Elanco shares rise 50 percent in first day after $1.5B animal-health IPO
The Eli Lilly and Co.-owned animal medicine maker’s shares rose to $36 each at closing Thursday, up from their $24 offering price.
Lilly’s Elanco animal-health business raises $1.5 billion in IPO
Greenfield-based Elanco Animal Health Inc. raised more than expected in its initial public offering, pricing its shares above the marketed price range.
Lilly’s Elanco spinoff expected to raise up to $1.45 billion in IPO
The Greenfield-based animal health unit is gearing up for independence after 65 years as part of drugmaker Eli Lilly and Co. But Elanco has been struggling, and top management will have to work hard to stabilize the operation.
Trump asks SEC to study half-year company earnings reports
While some business leaders have groaned about the rigors associated with having to disclose financial figures four times a year, the SEC has been reticent to make any changes.