Posts related to ‘Private Equity’

Three SPAC Deals on Deck This Week and More (TLB, BPW, AXG, CFQCF, AUTC)

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.  Talbots Inc. (NYSE: TLB) is up for review this Friday, and we have developments in Warrants in Atlas Acquisition Co. (AMEX: AXG), China Fundamental Acquisition Co. (OTC: CFQCF), and AutoChina International (NASDAQ: AUTC).
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Posted on: February 9, 2010 – 8:18 am in Mergers and Buy Outs, Private Equity, , , , ,

SPAC Deals Keep Rolling; More Blank Checks Set to Emerge (NLX, CSAQF, AXG, CFQCF, AMRR)

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.  Deals with news on deck are in Overture Acquisition Co. (AMEX: NLX),
CS China Acquisition Co. (OTC: CSAQF), China Fundamental Acquisition Co. (OTC: CFQCF) and Atlas Acquisition Co. (AMEX: AXG).
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Posted on: February 1, 2010 – 8:56 am in Mergers and Buy Outs, Private Equity, , , , ,

It’s Here! Tesla Motors Files For IPO

Tesla Motors, Inc. has finally filed for an initial public offering.  The maker of the electric roadster and electric sedan filed to sell up to $100 million in common stock in an IPO after the close of trading on Friday. As with most IPO filings, Tesla did not give any financial term.  But the filing also does not give a proposed stock ticker nor whether it plans to list on the NYSE or NASDAQ.

The underwriting group is a solid group of go-to underwriters: Goldman Sachs, Morgan Stanley, J.P. Morgan, and Deutsche Bank.  As of December 31, 2009, Tesla had sold 937 Tesla Roadsters to customers in 18 countries and is developing its planned Model S sedan with a planned launch in 2012.
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Posted on: January 29, 2010 – 4:59 pm in Alternative Energy, Autos, IPOs, Private Equity

14 IPO Updates for 2010 (BX, INTC, QCOM, NVS, CNVO, EVDY, FFN, GNRC, GRM, CTC, IRWD, JKS, MOTR, QNST, RYI)

The IPO market is off to a rough start so far in 2010.  We have seen very recent developments in deals on deck to price from CBOE Holdings Inc., Convio Inc., Everyday Health Inc., FriendFinder Networks Inc., Generac Holdings Inc., Graham Packaging Co., HealthPort Inc., IFM Investments Ltd., Ironwood Pharmaceuticals Inc., JinkoSolar Holding Co. Ltd., Motricity Inc., Prometheus Laboratories Inc., QuinStreet Inc., and Ryerson Holding Corp. all have significant developments in their quests to come public.

This has many implications for public companies such as The Blackstone Group (NYSE: BX), Intel Corp. (NASDAQ: INTC) via Intel Capital and Qualcomm Inc. (NASDAQ: QCOM) via Qualcomm Ventures, and Novartis (NYSE: NVS).  Below is a brief update on each IPO on the docket.
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Posted on: January 28, 2010 – 7:45 am in ADR, Business Services, China, IPOs, Internet, Mergers and Buy Outs, Private Equity, Technology Companies, , , , , , , , , , , , , , ,

Some Miracle SPAC Deals Succeed, Some in De-Listing Danger (NLX, CIO, ARR, BPW, TLB, UEI)

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.  There have been key developments in Overture Acquisition Co. (AMEX: NLX), Asia Special Situation Acquisition Co. (AMEX: CIO), ARMOUR Residential REIT Inc. (ARR), BPW Acquisition Co. (AMEX: BPW), The Talbots Inc. (NYSE: TLB), and Ultimate Escapes (AMEX: UEI).  We have details on each below.
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Posted on: January 27, 2010 – 9:32 am in Mergers and Buy Outs, Private Equity, , , , , ,

SPACUpdate Sees More SPAC Developments (CIO, AXG, NLX, DJSP, HMR)

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.  Deal news has been seen in Asia Special Situation Acquisition Corp. (AMEX: CIO), Atlas Acquisition Co. (AMEX: AXG), Overture Acquisition Co. (AMEX: NLX), Chardan 2008 China Acquisition Co. (NASDAQ: DJSP), and Sports Properties Acquisition Co. (AMEX: HMR).  There have been some positive developments in these, with some not looking so positive in the sector of blank check and special purpose acquisitions.
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Posted on: January 19, 2010 – 11:07 am in Mergers and Buy Outs, Private Equity, , , , ,

Cablevision Value Watch: Madison Square Garden Spin-Off (CVC, MSGNV, MSG, GBL)

Cablevision Systems Corporation (NYSE: CVC) has approved the spin off of Madison Square Garden to Cablevision shareholders.  Madison Square Garden is the home venue of the New York Knicks and Rangers, but is also home to concerts, boxing events, tennis, and other events.  You have to be a holder of Cablevision to receive the shares, at least that is the case before the regular trading takes place.  Cablevision said tonight that the share distribution will take place on February 9, 2010, and that distribution will be made to Cablevision’s shareholders of record as of the close of business on January 25, 2010 (i.e. settlement date on or before).

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Posted on: January 12, 2010 – 6:13 pm in Accounting, Activist Investor, Cable Companies, Dividend, Entertainment, IPOs, Media, Mergers and Buy Outs, Private Equity, Value Investing, , , ,

Chardan SPAC Deal Vote Kicks off Weeks of SPAC-tion (CACA, HMR, CIO)

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.  There is still much going on in the sector, and the key deals covered this morning are in Chardan 2008 China Acquisition Co. (NASDAQ: CACA), Sports Properties Acquisition Co. (NYSE: HMR), and Asia Special Situation Acquisition Co. (AMEX: CIO).  More detail has been provided on each.
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Posted on: January 11, 2010 – 9:17 am in Mergers and Buy Outs, Private Equity, , ,

IPO FILING: Codexis Inc. (CDXS, MAXY, RDS-A)

Codexis, Inc. has filed its paperwork with the SEC for an initial public offering.  The company plans to trade under the ticker “CDXS” on NASDAQ.  Credit Suisse and Goldman Sachs are the joint book-runners, while co-managers are listed as RBC Capital Markets and Pacific Crest Securities.  No financial terms are listed in the IPO filing other than up to $100 million in common stock, but this company touts itself as a provider of “biobased solutions for the low carbon economy.”

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Posted on: December 28, 2009 – 5:41 pm in Alternative Energy, Biotech, Drug companies, IPOs, Oil & Gas, Private Equity, , ,

Blackstone Looks for IPO Exit in Graham Packaging (GRM, BX)

Graham Packaging Company Inc. is one of the most recent filings for a private equity-backed initial public offering.  While terms were not given for this IPO, the company listed that it would sell up to $350 million worth of common stock.  The packaging company said that it plans to list on the New York Stock Exchange under the stock symbol “GRM.”  It did not even list any underwriters in the preliminary prospectus, although the company is tied to The Blackstone Group L.P. (NYSE: BX).
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Posted on: December 23, 2009 – 11:13 am in Business Services, Consumer Goods, IPOs, Private Equity, ,

Financial Facelift For Ruth (RUTH)

Ruth’s Hospitality Group Inc. (NASDAQ: RUTH) is trying to get its financial house more in order.  The owner and operator of the Ruth’s Chris Steak House chain announced new financial steps last night that involve a private equity firm and should rework its credit facility and push out its debt maturity while giving it more flexibility to run.  Unfortunately, there is little excitement about this so far as it brings more dilution to common shareholders.
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Posted on: December 23, 2009 – 10:20 am in Food, Private Equity, Retail, Secondary Offering,

SPAC-tacular SPACs and Blank Checks that Shot Blanks (TOH, REN, CCME, SCRQF, AUTC, GHC, CIO, PPAC, GHQ, IRDMU, TTY, GGEEF, TCW, IAQG, AYA, BPW, CACA, GSMEF)

Once thought to be slipping through the recession’s cracks and into oblivion, many special purpose acquisition companies not only succeeded in getting investors to sign off on mergers—some generated substantial value after the deal for shareholders. SPACupdate.com tracks these SPACs, and has anointed the year’s best blank checks—while also acknowledging a few flops in the asset class.
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Posted on: December 22, 2009 – 10:43 am in Mergers and Buy Outs, Private Equity, , , , , , , , , , , , , , , , , ,

BATS Plans The Other-Other IPO Market

BATS Exchange has been an almost stealth success in the world of trading stocks.  In about four years it now claims to have about 10% of the US equity trading market share and about 8% of the FTSE 100 market share in trading volume.  The company also recently filed rules with the SEC to launch US equity options trading and a second U.S. equities exchange both slated for launch in early 2010. Now it plans to launch a new ‘primary listings market’ by summer of 2010, which 24/7 Wall St. would dub the (or an) “other-other IPO market” for companies. BATS said that it wants to provide “a competitive alternative to incumbent exchanges by expanding into the US listings market.”   The details were very limited in the release, so we will wait for more data and information before signing this up for the party or for the funeral.
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Posted on: December 18, 2009 – 6:01 am in Brokerage Firms, Business Services, Corporate Governance, Exchange News, Financial Stocks, IPOs, Law, Mergers and Buy Outs, Private Equity, Regulation, SEC, Small Cap Stocks

A Take On M&A and IPOs For 2010

2009 has been far from an IPO-packed year compared to other years in this decade.  Ditto for mergers and acquisitions.  Many of the IPOs that price earlier in 2009 have done well while many of the later 2009 IPO have backed off.  PricewaterhouseCoopers has issued a financial report today with an outlook into mergers and acquisitions in 2010, and one trend that is expected to continue is the involvement of private equity-backed offerings.  Specifically noted was that over half of the 2009 IPOs were by financial sponsor-backed, or primarily private equity, companies.  PwC expects that this trend will continues for what is left of 2009 and into 2010.  Also given was a sector-by-sector breakdown for MA&, as well as a take on IPOs.
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Posted on: December 16, 2009 – 2:04 pm in Economy, IPOs, Mergers and Buy Outs, Private Equity

SPAC Developments Ramping Into Year-End (KWIC, TWO, UEI, ARR, AXG, NLX, BPW, TLB, URX)

To close out the year, SPACs are pumping out deals one after another. However, as of late, some blank checks have not fared as well, and the NASDAQ and OTC Bulletin Board could become increasingly populated with blank checks’ targets that are elbowed from the AMEX. SPACupdate.com will follow up soon with our picks for the best—and worst—blank check mergers of 2009.  Two Harbors Investment Corp. (AMEX: TWO), Kennedy-Wilson Inc. (AMEX: KWIC), Ultimate Escapes Inc. (AMEX: UEI), ARMOUR Residential REIT Inc. (ARR), Atlas Acquisition Co. (AMEX: AXG), Overture Acquisition Co. (AMEX: NLX), BPW Acquisition Co. (AMEX: BPW), and United Refining Energy (AMEX: URX) all have key developments taking place right now and into year-end.
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Posted on: December 14, 2009 – 9:52 am in Mergers and Buy Outs, Private Equity, , , , , , , , ,

Talbots Surprising SPAC Merger (BPW, TLB)

The world of special purpose acquisition companies is already a strange one that offers a bit of individualized private equity via the stock market.  The deal between BPW Acquisition Corp. (AMEX: BPW) and The Talbots, Inc. (NYSE: TLB) is another strange deal in the SPAC universe.  Talbots is acquiring BPW Acquisition Corp., and the specialty retailer of women’s apparel will retain Talbots’ ticker symbol and will trade on the New York Stock Exchange.
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Posted on: December 8, 2009 – 9:47 am in Apparel, Mergers and Buy Outs, Private Equity, Retail, ,

The Unusual Suspects (AMZN, AAPL, COST, FTR, HUN, SOMX, S, TTWO, WFC, BAC, BRK-A, YHOO)

This was a wild week, and perhaps a disappointment that the news did not propel stocks even higher.  There were many key movers though, and we have a very active panel of very active and widely held shares for traders and investors to keep an eagle eye on in the coming week.  This coming week’s unusual suspects are Amazon.com Inc. (NASDAQ: AMZN), Apple Inc. (NASDAQ: AAPL), Costco Wholesale Corporation (NASDAQ: COST), Frontier Communications Corp (NYSE: FTR), Huntsman Corporation (NYSE: HUN), Somaxon Pharmaceuticals (NASDAQ: SOMX), Sprint Nextel Corp. (NYSE: S), Take-Two Interactive Software Inc. (NASDAQ: TTWO), Wells Fargo & Co. (NYSE: WFC), Bank of America Corporation (NYSE: BAC), Berkshire Hathaway Inc. (NYSE: BRK-A), and Yahoo! Inc. (NASDAQ: YHOO).

We have given a full run down on each company and links to even more detailed data where appropriate.

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Posted on: December 5, 2009 – 10:41 am in Banking, Buffett, Calendar, Charts, Consumer Electronics, Cramer, Cult Stock, Editor's Picks, Internet, Mergers and Buy Outs, Options, Private Equity, Regulation, Rumors, Secondary Offering, Shareholder Issues, Technical Analysis, Technology Companies, Telecom, Trading Alert, Video Games, , , , , , , , , , , ,

SPACs’ Dead Deals, New Deals and Deal Votes (URX, KWIC, CFQCF, TGY, NSAQ, GSMEF)

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.  There are deal updates and calendar events in United Energy Refining Corp. (AMEX: URX), Kennedy-Wilson Inc. (AMEX: KWIC), China Fundamental Acquisition Co. (OTC: CFQCF), Tremisis Energy Acquisition II (AMEX: TGY), North Shore Acquisition Co. (OTC: NSAQ), and GSME Acquisition Partners (OTC: GSMEF).
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Posted on: December 1, 2009 – 8:53 am in Mergers and Buy Outs, Private Equity, , , , , ,

More SPAC Deal & Warrant News (EDS, TGY, NSAQ, CAEL)

We have been given some exclusive coverage on the recent developments in special purpose acquisition companies and blank check companies from SPACupdate.com this morning.

Exceed Co. (NASDAQ: EDS), the Chinese apparel maker brought public through 2020 ChinaCap Acquiro, announced that it will accept warrants in exchange for shares on a 3.96:1 basis. The deal offers warrant holders a quick, guaranteed option into the company’s shares and to Exceed execs, to them it offers a quick chance to curb dilution. The offer begins Nov. 30, and will continue for 20 business days after; at the end of the offer, Exceed warrants’ old rules revert back into place.
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Posted on: November 24, 2009 – 9:07 am in Mergers and Buy Outs, Private Equity, , , ,

The More Focused, and More Opaque, Buffett & Berkshire Hathaway (BRK-A, BRK-B, BNI, UNP, NSC, GS, GE, TIF, HOG, WMT, COP, XOM, WFC, RSG, DOW, ETN, WBC, MCO, WLP, UNH, GSK, SNY, GCI, WPO)

This was an important week for investment guru and billionaire watchers to see which gurus were holding which stocks.  The full public equity holdings of Warren Buffett via Berkshire Hathaway Inc. (NYSE: BRK-A) were particularly of note, particularly with those B shares under “BRK-B” soon to split and giving a chance for even the less astute ranks of Joe Public to own a piece of the Berkshire dream.  Obviously the huge change is via the Burlington Northern Santa Fe Corp. (NYSE: BNI) buyout.  As part of this deal, Buffett is exiting Union Pacific (NYSE: UNP) and exiting Norfolk Southern (NYSE: NSC) stakes of about $600 million and $100 million, respectively, to avoid duplication and internal competition.  The rail transport play now accounts for about one-quarter of the total Berkshire Hathaway entity upon closing. But the less obvious position in that Warren Buffett in 2009 has made it clear that there will be a simpler and probably less “stock-hound” version of Berkshire Hathaway ahead.

Buffett has gone higher up the food chain and is likely to be a creditor now inside or to large institutions.  We have seen this during the crisis.  Buffett negotiated a better deal for Goldman Sachs Group (NYSE: GS) than the US Government was able to get.  Buffett’s preferred stock in Goldman Sachs has a dividend of 10% and is callable at any time at a 10% premium; but Buffett also got warrants to purchase $5 billion of common stock with a strike price of $115.00 per share, exercisable for a five-year term (4 years now), and Buffett would effectively get to pocket $61 per share if he exercised those all today at the market (and with a $2.6 billion warrant profit alone).

The General Electric Co. (NYSE: GE) stake was listed only as 7.77 million shares of common stock (about $125 million now), the same as it has been for quarters.  Yet last year Buffett came to the rescue with a $3 billion of perpetual preferred stock in a private offering with a dividend of 10% and warrants to purchase $3 billion of common stock.  The preferred is callable after 3-years (2 years now) at a 10% premium; the warrants have a strike price of $22.25 and are exercisable for a five-year term (4 years now).
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Posted on: November 19, 2009 – 8:59 am in Activist Investor, Bonds, Buffett, Conglomerates, Dividend, Editor's Picks, Infrastructure, Large Cap Stocks, Mergers and Buy Outs, Oil & Gas, Private Equity, Transports, Value Investing, , , , , , , , , , , , , , , , , , , , , , , ,