Endeavor LLC, the company once known as William Morris and owner of Ultimate Fighting Championship league, has filed to go public or is about to file confidential paperwork for an IPO, the Wall Street Journal reported. Canada Pension Plan Investment Board invested $400 million in the company in 2017. Silver Lake is also an investors. Endeavor is valued at $6.3 billion, the WSJ said.
Durham, North Carolina-based Precision BioSciences, a genome editing system provider, has raised $126.4 million for its IPO after pricing its 7.9 million shares at $16 per share. The stock began trading March 28, 2019 on the NASDAQ under the ticker symbol "DTIL." JP Morgan, Goldman Sachs, Jefferies and Barclays are the underwriters. Precision BioSciences' pre-IPO backers include ArrowMark Partners, Franklin Templeton Investments, Cowen Healthcare Investments, Brace Pharma Capital, Adage Capital Management, Cormorant Asset Management, Gilead Sciences, Vivo Capital, Alexandria Venture Investments, Ridgeback Capital, Agent Capital, Leerink Partners, venBio, F-Prime and Osage University Partners.
Tradeweb, which builds and operates electronic marketplaces, set terms for its planned IPO. The New York company said it plans to sell 27.26 million shares at $24 to $26 each, according to an SEC filing. Refinitiv, which is backed by Blackstone and Thomson Reuters, owns 54 percent of Tradeweb before the IPO, while JP Morgan has 5.8 percent.
To start your morning, we have news that New Zealand is banning assault rifles, Levi Strauss is valued at $6.6 billion as its IPO prices above target, and Fortnite has nearly 250 million registered players.
Crescent Acquisition Corp, a blank check company formed by Crescent Capital Group LP, Robert D. Beyer and Todd M. Purdy, has raised $250 million for its IPO after pricing its 25 million shares at $10 per share. The stock began trading on the NASDAQ under the ticker symbol "CRSAU." Credit Suisse and BofA Merrill Lynch are the lead underwriters.
U.K. private equity firm BC Partners (BCP) and Canada Pension Plan Investment Board (CPPIB) have sold about one-third of their stake in Altice USA Inc (NYSE: ATUS), a New York-based broadband communications and video services provider. Altice USA purchased about 7 million of the Class A shares sold for US$150 million. Following these transactions, BCP and CPPIB together own about 10.5 percent of the company. BCP and CPPIB became shareholders of Altice USA with Altice SA's 2015 acquisition of Suddenlink. The deal created Altice USA , which went public two years later.
GoDaddy Inc said Feb. 25 that KKR and Silver Lake are selling about 8.5 million shares in the company in a secondary offering. GoDaddy itself is offloading about 8,000 shares. KKR is selling 3.36 million shares and appears to be cashing out with the sale, an SEC filing said. Silver Lake owns 5.25 million shares and is offering about 5.16 million. Silver Lake, after the secondary, will have 89,000 shares or 0.1 percent, the filing said.
Floor & Decor Holdings Inc said Feb. 26 that Ares Management LP and Freeman Spogli Management Co LP plan to sell 10 million shares of company stock in a secondary offering. The selling stockholders also plan to offer 1.5 million additional Floor & Décor shares to the underwriters. JP Morgan Chase and Goldman Sachs are underwriters of the offering. Floor & Decor, a retailer of hard surface flooring and related accessories, went public in April 2017.
Vancouver-based women’s fashion brand Aritzia Inc (TSX: ATZ) said U.S. private equity firm Berkshire Partners will sell its remaining stake in the company as a result of a secondary offering and share buyback. Berkshire and other shareholders agreed to sell subordinate voting shares for $16.90 per unit, which is expected to generate about $330 million in proceeds. Aritzia also agreed to repurchase shares from Berkshire at the same price. Proceeds going to the investor are expected to total about $107 million. Berkshire acquired Aritzia in 2005. The company went public in Canada in 2016, raising $460 million.
Stealth BioTherapeutics, a biotech company focused on developing new treatments involving mitochondrial dysfunction, has raised $78 million for its IPO of 6.5 million shares at $12 per share. The stock began trading February 15, 2019 on the NASDAQ under the ticker symbol "MITO." Jefferies LLC, Evercore Group LLC and BMO Capital Markets Corp are the lead underwriters. Stealth pre-IPO backers include Nan Fung Technology’s Pivotal Beta, Atlantis Investment Management, BVCF Management, CMBC Capital Holdings, Kingdon Capital, Ocean Equity Partners, Sagamore Investments and Morningside Ventures.