initial public offerings (IPOs) trading on American exchanges

Thursday, June 16, 2022

Bausch Health suspends plans for Solta IPO

Solta is a provider in medical aesthetics with skin rejuvenation and body contouring solutions, including the Thermage® RF systems, Fraxel® laser, Clear + Brilliant® laser and VASER® ultrasonic systems.


(Reuters) - Bausch Health Companies Inc (BHC) said on Thursday it was suspending plans for the initial public offering of its unit Solta Medical due to challenging market conditions.

It has been a gloomy year for U.S. capital markets, with IPO-bound Reddit Inc and Mobileye, the self-driving car unit of Intel Corp (INTC), facing challenges.

Bausch, previously known as Valeant Pharmaceuticals, said it would revisit alternative paths for medical aesthetics company Solta in future.

In August, Bausch announced plans to pursue an IPO of Solta in a bid to shed non-core assets and cut down debt. read more

The Canadian company's debt piled up due to aggressive deal-making under former Chief Executive Officer Mike Pearson.

The company's eye-care unit, Bausch + Lomb (BLCO), was recently listed in the United States and Canada.

Friday, May 13, 2022

SoFi Technologies (SOFI) began trading on the Nasdaq on Tue 1 June 21

SoFi Technologies is an online personal finance company and online bank. It provides financial products including student and auto loan refinancing, mortgages, personal loans, credit card, investing, and banking. 
  • Sector(s): Financial Services
  • Industry: Credit Services
  • Full Time Employees: 2,500
  • Founded in 2011 
  • HQ in San Francisco, California
  • https://www.sofi.com

SoFi attracted funding from investors such as Peter Thiel, private equity firm Silver Lake and SoftBank, according to PitchBook.
Went public in a $8.65 billion deal with Social Capital Hedosophia Holdings V, the latest blank-check company from venture capitalist Chamath Palihapitiya.
Other Chamath SPACs: Opendoor Technologies (OPEN), Virgin Galactic Holdings (SPCE), Clover Health Investments (CLOV)
On the first day of trading the stock closed up more than 12% to $22.65.

 

 Anthony Noto, CEO of SoFi

Monday, May 9, 2022

Grindr to go public in $2.1 bln SPAC deal

(Reuters) - Gay dating app Grindr said on Monday it would go public through a merger with a blank-check acquisition firm - a deal that values it at $2.1 billion and features Tiga Investments CEO Raymond Zage on both sides of the transaction.


Grindr said its existing shareholders would own 78% of the company after the merger, which comes two years after China's Kunlun Tech Co (300418.SZ) divested it for $620 million due to U.S. national security concerns.

While Grindr did not disclose the identities of its existing shareholders, Reuters previously reported that Zage had a 41% stake in the consortium that acquired Grindr. A source familiar with the matter said on Monday that Zage continues to be an investor in Grindr.

Tiga Acquisition Corp (TINV.N), the Singapore-based special purpose acquisition company (SPAC) that will merge with Grindr, is controlled by Zage.

Under the deal, Grindr will receive $284 million in cash from Tiga and up to $100 million in a forward purchase agreement.

Grindr and Tiga expect that their deal may require clearance from the Committee on Foreign Investment in the United States (CFIUS) which scrutinizes deals for potential national security risks, according to a copy of their merger agreement that was made public on Monday.

CFIUS ordered Kunlun to sell Grindr in 2019 over concerns that the personal data of U.S. users could be accessed or exploited by China's government.

It could not be learned if CFIUS had a role in Grindr's decision to explore a sale and merger with a SPAC. A spokesperson for the U.S. Treasury Department, that chairs CFIUS, did not respond to a request for comment.

Saturday, May 7, 2022

Miami International Holdings confidentially files for U.S. IPO

(Reuters) – Miami International Holdings Inc, which owns the options exchange Miami International Securities Exchange (MIAX), said on Friday it has confidentially submitted paperwork with regulators for a U.S. initial public offering.
  • https://www.miaxoptions.com/
  • MIAX Options, MIAX PEARL and MIAX Emerald are fully electronic options trading exchanges and wholly-owned subsidiaries of Miami International Holdings, Inc. (MIH) that comprise the MIAX Exchange Group.  
  • On February 21, 2019 MIAX Options launched options on the SPIKES™ Volatility Index. SPIKES™ is a measure of the expected 30-day volatility in the SPDR® S&P 500® ETF (SPY), the most actively-traded exchange traded fund in the world. SPIKES™ was developed by T3 Index (T3), a research-driven indexing firm that develops proprietary indexes as part of a partnership with MIH.
  • Founded in 2017
The Princeton, New Jersey-based exchange operator did not share any other details related to the terms of the offering and chose to keep its finances hidden from competition by confidentially filing initial paperwork with the U.S. Securities and Exchange Commission.

Miami International owns three options exchanges including the MIAX Pearl. It also runs the Bermuda Stock Exchange and the Minneapolis Grain Exchange, among others.

The company launched stock trading on the MIAX Pearl in September 2020, looking to grab market share from the likes of its listed peers such as Nasdaq Inc, Intercontinental Exchange Inc owned New York Stock Exchange, Cboe Global Markets and others.

Miami International launched options trading on the MIAX, its first exchange, in December 2012, using management expertise and relationships in the equity options space. It now lists and trades options on over 3,900 multi-listed classes, its website said.

The MIAX Exchange Group’s executive offices and National Operations Center are located in Princeton, NJ, with a Miami Operations Center, Annual Meeting and Conference Center, and offices for MIAX Technologies and MIAX Global, two other MIH subsidiaries, located in Miami, FL.