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Smart lock startup Latch Inc. is set to be the latest company to go public via a special-purpose acquisition company in a deal that values the company at $1.56 billion. Under the deal, Latch will go public via TS Innovation Acquisitions Corp., a company backed by property developer Tishman Speyer. Latch will raise $510 million in cash, including $190 million from investors Chamath Palihapitiya, BlackRock, D1 Capital Partners and Fidelity Management & Research, according to Reuters. SPACs are entities that are created for the sole purpose of buying another firm and taking it public. They became growingly popular in 2020...

The oil giant released a valuation target ranging from $1.6 trillion to $1.7 trillion. The figures fall short of the $2 trillion target Saudi Crown Prince Mohammed bin Salman has been fixed on for more than two years. The difference in value illustrates the operational, geopolitical and governance risks that investors face betting on the offering, writes Ben Dummett. The IPO still has potential to be the world's biggest by surpassing the $25 billion Alibaba raised in 2014. But the stock listing is beginning to reveal a set of dueling interests for Saudi Arabia. Saudi leadership wants the stock offering...

It was a glorious spring morning in New York, and sunlight streamed through the windows of 115 West 18th Street. This is the global headquarters of The We Company, and I was there to meet with its CEO and cofounder Adam Neumann. He greets me warmly as I am ushered to his office, and he gestures for me to follow him to a small room in the back of his workspace. He said he wanted to show me something. He looked happy, smiling confidently, the way a guy sitting on top of company valued at $47 billion might. The room...

We Co. had $2.5 billion of cash as of June 30. At its current rate of cash burn—about $700 million a quarter—it would run out of money some time after the first quarter of 2020, according to Chris Lane, an analyst at Sanford C. Bernstein & Co. He and his colleagues projected in a recent note to clients that We would burn through nearly $10 billion in cash between 2019 and 2022, assuming it keeps growing.

Uber (UBER) officially began trading Friday on the New York Stock Exchange, but stumbled out of the gate as its stock dropped below its $45 initial public offering price. In Uber’s first test of whether it can transition from Silicon Valley unicorn to a publicly traded company while winning over a skeptical, volatile market, the stock — which priced at $45 on Thursday — gradually drifted lower from the $46-$48 indicated range earlier in the morning. In its first trade, Uber opened at $42 per share on the New York Stock Exchange (NYSE), effectively crashing out of the preferred range...

Uber and Lyft, the two ride-hailing giants, both are planning initial public offerings of their stock. And both of them are doing something interesting: offering their most valuable drivers cash bonuses that can be exchanged for equity at the IPO price — giving them the opportunity to buy in on the same terms as the big Wall Street players. This is an excellent idea, and one that should be encouraged. As the Wall Street Journal reports: Comments It is typically hard for an ordinary investor to buy a company’s stock at its IPO price before it begins trading on an...

The long-wait is over. Today, reports surfaced that Saudi Arabia has long-ago called off its highly anticipated, $100-billion-dollar IPO, Reuters sources confirmed, with even plans to list the state-run oil company on its domestic bourse, Tadawul, being scrapped. Its merry band of advisors have also been dissolved. The listing, which was to be the largest IPO in history, was delayed numerous times, its peril-fraught journey likely doomed from the start, encountering barriers anywhere from finding a suitable listing venue to quantifying its sizable oil reserves, from suspect transparency to in-fighting between the Saudi government and Aramco.

The company now estimates it will price its IPO at $10 to $11 a share, down from the $15 to $17 a share it initially expected. The new pricing range implies a valuation of up to $2.08 billion, compared with $3.2 billion earlier. Last week, the company submitted a filing that kicked off the process to go public on the New York Stock Exchange under the symbol "APRN." Blue Apron had said it hoped to raise $100 million with its IPO. The company is now in the final stages of preparing to go public in an already competitive meal-kit landscape....

Saudi Arabia revealed more details about its planned initial public offering of the state-owned oil company Saudi Aramco. As part of Deputy Crown Prince Mohammed bin Salman’s vision to diversify the Saudi economy over the next decade and a half, the IPO of Aramco could raise cash while also making the company more transparent. The Telegraph reported that Saudi Aramco plans a three-way listing, with shares listed in London, New York, and Hong Kong. Also, Aramco hopes to convince some of the oil majors, including ExxonMobil, BP and China’s Sinopec, into taking “strategic stakes” in Aramco, “offering them long-term access...

Shares of the Chinese e-commerce giant opened at $92.70. That marks a 36% pop from the $68 price of its record-shattering initial public offering. The first day of trading can be very volatile. Alibaba continued to climb and nearly hit $100 before sinking back down to around $93.

(VIDEO-AT-LINK)Chinese e-commerce giant Alibaba on Friday filed to sell up to $24.3 billion in stock, making it the biggest U.S. initial public offering ever. Alibaba is selling 123 million of the 320 million American Depositary Shares slated for the IPO at between $60 and $66 per share, according to a filing. Shareholders including Yahoo, Ma and executive vice chairman Joe Tsai are offering the remainder. Yahoo cut its stake in the company to 16.3 percent from 22.4 percent and SoftBank cut its stake to 32.4 percent from 34.1 percent earlier, Dow Jones reported....

A Chinese Internet giant is expected to win approval from the Securities and Exchange Commission (SEC) for potentially the largest ever U.S. initial stock offering despite a myriad of investment and security risks posed by the IPO, critics say. Alibaba Group Holding Ltd., a Chinese company whose online retail sales exceed those of U.S. competitors, such as Amazon or Ebay, currently awaits SEC approval for the stock sale that could raise as much as $20 billion. The SEC has assented to several IPOs of Chinese companies with similar corporate structures since 2000. However, critics of the offering say the potential...

Do you know Ally Financial Inc.? You've no doubt seen their commercials. They used to be all over the tube hawking their high-yielding certificates of deposit. Now they're all over the tube with their "no hidden fees" campaign. . . . But Ally isn't funny. It recently announced that it's launching an initial public offering (IPO) of its stock at a price per share of $25 to $28. The shares will be offered by the U.S. Treasury as part of its planned exit of its investment in Ally during the subprime crisis in 2008. I've heard some analysts say this...

If Obamacare’s website, www.healthcare.gov, had an initial public offering, as Twitter did this week, how might its stock price be valued after its recent performance? In Colorado, nearly 250,000 people were notified that their health insurance will be cancelled because their plans fail Obamacare's requirements. In Washington State, nearly 200,000 people received similar notices. Coloradoans and Washingtonians may be losing their doctors and health insurance, but at least they have legalized marijuana to dull the pain. Delaware and North Carolina each boast one Obamacare enrollee. Winning. Beyond under-enrollment, the Obamacare-forced cancellations portend tragic consequences. The Wall Street Journal publicized the...

Twitter's stock debut up 73 above its IPO price, valuing Twitter at more than $31 billion. Twitter's trading debut is the most highly anticipated since Facebook's last year. Twitter will trade under the ticker symbol "TWTR." Twitter priced the initial public offering of stock at $26 per share, valuing the company at more than $18 billion based on its outstanding stock, options and restricted stock that'll be available after the IPO. The pricing means the short messaging service will raise $1.8 billion in the offering, before expenses.

SolarCity (SCTY), another “green energy” company and recipient of millions of dollars of taxpayer funds, in under investigation by the Internal Revenue Service (IRS), sources reveal. The company, which recently filed for its initial IPO, has disclosed that it received subpoenas in July from the U.S. Treasury Department. The Treasury Department is investigating whether companies overstated the market value of solar panel arrays they installed when claiming the 30% federal cash grant. The IRS also notified SolarCity that it is auditing two of its investment funds and reviewing the claimed value of solar systems submitted to receive the federal cash...

"The only thing we learn from history - is that we never learn from history." This great maxim accurately explains the insanity reflected in some tech stocks and companies masquerading within that genre. It is reminiscent of the late 1990s. Those were the days of $200 billion+ Yahoo and AOL evaluations (before ever turning a profit) and IPOs of some of the most preposterous business plans ever conceived. I'm not referring to Apple's (AAPL) current valuation of $630 billion. I'm referring to companies like..." (continued)

NEW YORK, May 30, 2012 (MeshPress) — Milberg LLP announces that class action lawsuits were filed in the United States District Court for the Southern District of New York on behalf of purchasers of Facebook, Inc. (“Facebook”) FB -2.29% common stock pursuant to the Company’s May 18, 2012 initial public offering (the “IPO”). Actions were also filed in the Northern District of California. The complaints charge Facebook, certain of its officers and directors, and underwriters of the IPO with violations of the Securities Act of 1933. The actions allege that the Registration Statement and Prospectus issued with the IPO were...

California government may receive a windfall from huge capital-gains taxes on the sale of Facebook stock following the Palo Alto social-networking behemoth's recent initial public offering. Or not. Some were disappointed that the stock opened at $38 only to drop within a few days to $31. A worst-case scenario for Gov. Jerry Brown and his Democratic Party colleagues desperate to shore up the state budget would be if resales of Facebook stock kept declining in value, not only eliminating capital gains, but providing tax deductions for selling shares at less than their purchase price...

Stop me if you've heard this one. Thousands of largely novice investors line up for what's been billed as "the opportunity of a lifetime" to buy a "can't-miss" investment destined for easy gains. Pundits take position and say it's worth buying at "any price." People whisper in anticipation over how much they'll make. Fifty percent? Double their money? More? In the end, the floor drops out and they're left with hefty losses -- totally predictable losses. Furious investors want answers. What went wrong, they ask? The answer is usually complicated, but has a common denominator: You overpaid. Fell for the...