Category Archives: IPO

BlackSky is going public through a merger with Osprey Technology

Satellite imagery specialist BlackSky and Osprey Technology Acquisition Corp., a special purpose acquisition company (SPAC), announced they have entered into an agreement for a business combination that would result in BlackSky becoming a publicly listed company on the NYSE with the ticker symbol ‘BKSY’.

BlackSky is a pioneer in real-time Earth observation leveraging the innovative performance and economics of small satellite constellations to deliver high revisit global monitoring solutions. BlackSky’s Artificial Intelligence/Machine Learning (AI) powered analytics platform derives unique insights from its constellation as well as a variety of space, and terrestrial-based sensors and data feed.

Osprey is led by investors Edward Cohen and Jonathan Cohen alongside JANA Partners’ David DiDomenico.

The merger’s value will reach $1.5 billion. The company’s plans to use the funds to enhance it’s network to 30 imaging satellites, and to capture imagery of anywhere on earth almost every 30 minutes. Now BlackSky has five satellites in operation and will add about nine more satellites in orbit around earth in 2021.

IPO

NextEra Energy (NEE) says its NextEra Energy Partners limited partnership has filed for an IPO to raise up to $50M

2U (TWOU) opened at for trading at $13 and is currently at $12.95, down 0.4% from an IPO price of $13

CBS Outdoor CBSO opens trading at $30.10 after pricing its IPO at $28 per share

 (WUBA) is issuing 4M new shares (gross proceeds of $181M at current levels), and selling 4M on behalf of existing holders. Underwriters have a 1.2M-share overallotment option.

Mobileye plans to raise $500M in an IPO on the Nasdaq sometime this year. The Israeli company has created some of the technology used by automakers to avoid collisions. The projected valuation on Mobileye is at $2.5B-$3.0B if the IPO goes off as planned

IsoRay (ISR) sells 5,644,300 shares to institutional investors in a direct offering for $2.60/share. Gross proceeds are $14.7M and will be used for general corporate purposes.

RTGN offers 2.65M units for $7.25. Each unit consists of one share of common stock and one Series A warrant. The Series A warrants are immediately exercisable into one share of common at $7.25 plus one Series B warrant. The term is 2 years. The Series B warrants are immediately exercisable into one share of common at 125% of the IPO price. The term is 5 years.  The company develops and commercializes pharmaceutical-grade hypochlorous acid to treat infections. The firm has yet to generate any sales.

Eleven Biotherapeutics’ (EBIO) shares are due to begin trading on Nasdaq today after the company raised $50M in an IPO by selling 5M shares at $10 each. That’s below the initial range of $13-15, although Eleven Biotherapeutics was expected to sell only 4.3M shares.
There’s also a greenshoe option for another 750,000 shares.
Eleven Biotherapeutics develops treatments for eye diseases using its proprietary protein-engineering platform, AMP-Rx.
The firm’s lead candidate is EBI-005, which its developing as a topical treatment for dry eye disease and allergic conjunctivitis.

The number of IPOs (IPO) jumped 59% in 2013 to 230 and the amount raised climbed 31% to $62B as companies took advantage of the Fed-fueled banner year for stocks to take the market close to levels seen in 2007.

Continental Building Products has filed to raise $200M in an IPO just months after Lone Star bought it from France’s Lafarge for $700M. Continental intends to use the proceeds of the listing to pay fees to Lone Star, and for debt repayments and working capital.

Ladder Capital (LADR) files for an IPO of no more than $200M worth of stock. The company’s primary business is originating first mortgage loans (conduit loans) secured by income-producing commercial real estate. Founded in October 2008, the company has originated $5.4B worth since, $5.1B of which were sold into 16 securitizations.

Noah Education (NED) +15.5% premarket on news that some of its shareholders have proposed taking the company private for ~$105M, and NED has formed a special committee to evaluate the proposal.

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