WeWork is expected to launch its IPO in September and is targeting a share sale of about $3.5 billion, Bloomberg reported. WeWork, which rents office space to workers, plans to discuss its business with analysts on July 31, the story said.
Daytona Beach, Florida-based Cell Vault, a t-cell bank, has raised $1 million in funding. Bling Capital led the round with participation from Charlie Cheever and Jared Fleisher, according to a source familiar with the transaction.
Toronto-based waste management company GFL Environmental Inc has filed a registration statement with the U.S. Securities and Exchange Commission and a preliminary prospectus with Canadian securities regulators for an initial public offering. The number and price of subordinate voting shares to be sold have not been determined. The Globe and Mail reported GFL is looking to raise about $1.5 billion. Following the IPO, GFL will have two classes of shares: subordinate voting shares and multiple voting shares. The latter will be held by Founder and CEO Patrick Dovigi. Last year, GFL was recapitalized by an investor group led by BC Partners, Ontario Teachers’ Pension Plan and others. The deal valued the business at C$5.1 billion.
Toronto-based waste management company GFL Environmental Inc has filed a registration statement with the U.S. Securities and Exchange Commission and a preliminary prospectus with Canadian securities regulators for an initial public offering (IPO). The number and price of subordinate voting shares to be sold have not been determined. The Globe and Mail reported GFL is looking to raise about $1.96 billion (US$1.5 billion). Following the IPO, GFL will have two classes of shares: subordinate voting shares and multiple voting shares. The latter will be held by Founder and CEO Patrick Dovigi. Last year, GFL was recapitalized by an investor group led by BC Partners (BC), Ontario Teachers’ Pension Plan (OTPP) and others. The deal valued the business at $5.1 billion.
Cambridge, Massachusetts-based Fulcrum Therapeutics, a clinical-stage biopharmaceutical company, has raised $72 million for its IPO after pricing its 4.5 million shares at $16 per share. The stock began trading July 18, 2019 on the NASDAQ under the ticker symbol "FULC." Morgan Stanley, BofA Merrill Lynch and SVB Leerink are the lead underwriters. Fulcrum's pre-IPO backers included Third Rock Ventures and Foresite Capital.
Subversive Capital Acquisition Corp (SCAC) has closed its initial public offering (IPO) on the Neo Exchange, raising proceeds of US$575 million, including the greenshoe option. The offering was distributed by Canaccord Genuity Corp. SCAC, a newly-formed special purpose acquisition corporation (SPAC), said it will now focus on sourcing and completing a qualifying transaction, targeting opportunities in the cannabis and related sectors. New York-based SCAC is sponsored by Subversive Capital Sponsor LLC. Its chairman is Michael Auerbach, general partner of U.S. venture capital firm Subversive Capital.
Pivotal Investment Corporation II, a blank check company, has raised $200 million for its IPO after pricing its 20 million shares at $10 per share. The stock began trading July 12, 2019 on the New York Stock Exchange under the ticker symbol "PIC.U." Cantor Fitzgerald and BTIG LLC are the underwriters. This past May, Pivotal merged with KLDiscovery, a provider of electronic discovery and information governance services to Fortune 500 companies and top law firm. KLD is backed by Carlyle and Revolution Growth.
McAfee LLC, the cybersecurity firm owned by TPG and Thoma Bravo, is meeting with bankers this week to discuss plans for going public, the Wall Street Journal reported. A McAfee IPO could come this year and value the company at $1 billion, the story said.
Waltham, Massachusetts-based Dynatrace, a provider of software intelligence, has filed for an IPO. The number of shares that will be sold as well as the stock's pricing terms have yet to be set. Dynatrace will trade the stock on the New York Stock Exchange under the ticker symbol "DT." Goldman Sachs, JP Morgan Securities LLC and Citigroup Global Markets are the lead underwriters. Dynatrace is a portfolio company of Thoma Bravo.
Morristown, New Jersey-based ProSight Global, a provider of specialty insurance, has filed for an IPO. The number of shares that will be sold as well as the stock's pricing terms have yet to be set. The company plans on trading the stock on the New York Stock Exchange under the ticker symbol "PROS." Goldman Sachs and Barclays are the lead underwriters. ProSight is backed by Goldman Sachs and TPG.