Carney Technology Acquisition II, a blank check company targeting the technology industry, filed on Friday with the SEC to raise up to $350 million in an initial public offering.
The Burlingame, CA-based company plans to raise $350 million by offering 35 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable $11.50. At the proposed deal size, Carney Technology Acquisition II would command a market value of $447 million.
The company is led by CEO, CFO, and Chairman David Roberson, who most recently served as SVP of Enterprise Servers, Storage and Networking at Hewlett-Packard, and Chief Acquisition Officer Lloyd Carney, who previously founded SPAC ChaSerg Technology Acquisition and served as CEO until its business combination with Grid Dynamics Holdings (GDYN; -11% from $10 offer price) in March of this year. Carney Technology Acquisition II plans to target technology companies
(Bloomberg) — Hong Kong’s boom in initial public offerings is set to be prolonged as companies given a boost by the pandemic outbreak follow China’s technology giants in selling shares, the bourse’s head of listings said.
Companies from the technology and biotechnology sectors could continue to fill the IPO pipeline in the near future as Covid-19 has boosted investments in research and development, Hong Kong Exchanges & Clearing Ltd.’s Head of Listing Bonnie Chan said in an interview on Friday.
“We thought 2020 would be a disappointment, but it has turned out to be a busy year,” Chan, 50, said. “I believe the IPO rush will continue.”
Hong Kong this year has seen a rush of listings from Chinese companies including JD.com Inc. and Netease Inc., which are selling shares
WASHINGTON (Reuters) – Senator Marco Rubio, who has successfully urged the Trump administration to pursue investigations of Chinese companies, called on Friday for the U.S. government to consider options to delay an initial public offering of China’s Ant Group, the fintech arm of Chinese e-commerce giant Alibaba.
“It’s outrageous that Wall Street is rewarding the Chinese Communist Party’s blatant crackdown on Hong Kong’s freedom and autonomy by orchestrating Ant Group’s IPO on the Hong Kong and Shanghai stock exchanges,” Rubio, a Republican, said in a statement to Reuters.
“The Administration should take a serious look at the options available to delay Ant Group’s IPO,” he added.
The Hong Kong leg of the IPO, part of a dual listing in Shanghai and Hong Kong, is being sponsored by China International Capital Corp, Citigroup, JPMorgan and Morgan Stanley. Credit Suisse is working as a joint global coordinator. Goldman Sachs
Holding a public event during a time of mandated silence by the U.S. Securities and Exchange Commission can make for an awkward affair. Nonetheless, social resale platform Poshmark pressed on to hold its eighth annual conference for its community of sellers on Friday and Saturday.
The goal of PoshFest is to energize the community of “seller stylists” and showcase upcoming and recently launched features. But as the company dished on its latest tools, along the way it also wound up providing notable context for its upcoming initial public offering.
As founder and chief executive officer Manish Chandra made clear, the company is in a state of constant development. And its moves over the past year have positioned the platform as a blend of some of the top retail trends of the moment. Beyond the company’s core premise of socially driven resale, it moved into short videos and doubled down on
(Reuters) – Home rental company Airbnb Inc is aiming to raise around $3 billion in its upcoming initial public offering (IPO), people familiar with the matter said on Friday, taking advantage of the unexpectedly sharp recovery in its business after the COVID-19 pandemic roiled the travel industry.
Airbnb will be one of the largest and most anticipated U.S. stock market listings of 2020 which has already been a blockbuster year for IPOs, featuring the likes of record label Warner Music Group WMG.O, data analytics firm Palantir Technologies PLTR.N and data warehouse company Snowflake Inc SNOW.N.
Airbnb said in August it had filed confidentially for an IPO with U.S. regulators.
Investors were dumping FAANG stocks again Friday and there just may be some very plausible explanations as to why that’s happening after an apparent rebound from a correction over and done with.
FAANG stocks fell 13% in a span of several weeks in September. Valuations were in re-rate mode as at-home growth services like cloud computing, data center storage, e-commerce and streaming may have seen a massive demand pulled forward from later years in the maturity cycle of these businesses. Friday, FAANG stocks were down more than 2% by 2:15 PM EDT. Cyclical stocks, on a day which employment figures missed estimates and caused some investor anxiety in the morning about the speed of the economic recovery, mostly rose. And the 10-Year Treasury yield rose to as much as 0.70% from 0.67%. That indicates growing inflation expectations, which indicates a recovering economy and means investors do not have to take
fuboTV (FUBO) intends to raise $150 million from the sale of its common stock in an IPO, according to an amended registration statement.
New York, NY-based fuboTV was founded to offer a combination subscription and advertising revenue platform to stream mostly sports events to user devices such as SmartTVs, mobile phones and other computing devices.
In 2019, pre-acquisition, fuboTV generated a monthly ARPU of $54, which represented an increase of 42% over the previous year.
Management is headed by Chief Executive Officer Mr. David Gandler, who has been with the firm since April 2020 and was previously president and CEO of fuboTV and Vice President Ad Sales at DramaFever, a video streaming service.
Below is a brief overview video of a consumer review of fuboTV: