IPO

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Lilly to Separate Animal Health Unit

INDIANAPOLIS, July 24, 2018 /PRNewswire/ — Eli Lilly and Company(NYSE: LLY) today announced that the company has completed its strategic review of Elanco Animal Health, and will file a registration statement in the coming weeks with the U.S. Securities and Exchange Commission (SEC) for a potential initial public offering (IPO) of a minority ownership stake in Elanco as a separate company….

Interactive to IPO Match.com

IAC/InterActiveCorp has approved the pursuit of an initial public offering (IPO) of newly-issued shares of common stock of The Match Group.  IAC also announced that Joey Levin, formerly CEO of its Search & Applications business, has been named CEO of IAC and joined its Board of Directors.  Greg Blatt will remain Chairman, and Sam Yagan…

Cree to Partial-IPO Power and RF Unit

Cree’s wholly owned Power and RF subsidiary has submitted a draft registration statement on a confidential basis to the U.S. Securities and Exchange Commission for a potential initial public offering of the subsidiary’s Class A common stock. The type and number of shares of stock to be sold and the price range for the proposed…

GSK Exploring IPO of HIV Unit

(Market Cap $105B) (Excerpt from press release dated 10-22-2014) Five years ago, we created ViiV Healthcare, a new standalone global business focused on development of treatments for HIV. This has been a highly innovative and successful venture with our equity partners Pfizer and Shionogi. The business has made very significant progress in both R&D and…

Rice Energy Plans MLP IPO

(Market Cap $3.5B) Rice Energy Inc. is pursuing the formation of a midstream MLP and intends to submit a draft Registration Statement on Form S-1 to the SEC for an IPO of common units of the MLP. The offering is expected to be completed in the first half of 2015. The initial assets of the…

Kerrisdale Capital’s Case for JGW

Conclusion JGW is the leading player in its industry, with 60-70% market share, a well-established consumer brand, and unparalleled operational expertise. Its ability to tap the securitization market gives it an attractive cost advantage over competitors. The Company generates enviable returns on investment in its core business and has clear opportunities to grow, both through accretive acquisitions and expansion…

Lasry of Avenue Capital Launches Blank Check Co

Boulevard Acquisition Corp. closed its previously announced initial public offering of 21,000,000 units at $10.00 per unit, for gross proceeds to the Company of $210,000,000. Boulevard Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination…

GasLog to IPO an MLP

(Market Cap $1.0B) GasLog Ltd., an owner, operator and manager of LNG carriers has submitted to the SEC, a draft registration statement on Form F-1 for an initial public offering of units in a master limited partnership to be formed to own certain of GasLog’s LNG carriers with multi-year charters. The proceeds of the offering would principally…

CBS Files for Previously Announced IPO of Billboard Division

Source: Bloomberg: CBS Outdoor Americas Inc. has filed for an initial public offering as part of parent company CBS Corp. (CBS)’s plan to split off the billboard division. The offering size, $100 million, is a placeholder amount that may change. A portion of the proceeds will be used to repay a CBS note, the company…

Enbridge to IPO an MLP

Enbridge Energy Partners, L.P. announced its intention to file a registration statement on Form S-1 with respect to the initial public offering of Midcoast Energy Partners, L.P., a proposed master limited partnership whose initial asset will consist of an approximate 40 percent ownership interest in EEP’s existing natural gas and NGL midstream business. EEP will retain…

NRG Files S-1 for Partial IPO of NRG Yield Inc.

NRG Energy, Inc’s wholly owned subsidiary, NRG Yield, Inc, has filed a registration statement on Form S-1 with the Securities and Exchange Commission in anticipation of a proposed initial public offering of the Class A common stock of NRG Yield. NRG Yield was formed by NRG to own and operate a diversified portfolio of long-term contracted…

Post-Reorg Builder to Reverse Stock-Split Ahead of IPO

(a) On May 6, 2013, in connection with the proposed initial public offering of shares of the Class A Common Stock, par value $0.01 per share (“Class A Common Stock”), of William Lyon Homes (the “Company”), as described in the Form S-1 Registration Statement (File No. 333-187819) filed by the Company with the Securities and…

Canadian Tire to Spin-Off and IPO a REIT

Canadian Tire Corporation announced its intention to create a real estate investment trust (REIT) to surface the value of billions of dollars of owned property REAL ESTATE INVESTMENT TRUST The Company today announced its intention to create a high-quality REIT that would: Surface the value of Canadian Tire’s real estate holdings Create a stand-alone vehicle…

QEP Resources to Form MLP & Conduct Partial IPO

QEP Resources, Inc. continues to evaluate strategic alternatives to enhance shareholder value with respect to certain of its midstream assets.  In the mean time, QEP’s board of directors has authorized the formation of a master limited partnership (MLP) and the preparation and filing of a registration statement with the SEC for an initial public offering (IPO)…

Compuware Files for IPO of Covisint

Compuware Corporation today announced that Covisint Corporation, currently a wholly owned subsidiary of Compuware, submitted a draft registration statement on a confidential basis to the U.S. Securities and Exchange Commission for a possible initial public offering of its Class A common stock. The Proposed IPO is intended, among other things, to give Covisint greater flexibility to…

Life Sciences Company to IPO Unit & Spin-Off Interest to Shareholders

Harvard Bioscience, Inc., a life science research and regenerative medicine company announced that its wholly-owned subsidiary, Harvard Apparatus Regenerative Technology, Inc., filed a registration statement with the SEC for an initial public offering, or IPO, of Harvard Apparatus Regenerative Technology’s common stock. Following the IPO, Harvard Apparatus Regenerative Technology will own Harvard Bioscience’s regenerative medicine device…

Cincinnati Bell to IPO Data Center Biz

  Cincinnati Bell Inc. intends to pursue an initial public offering of shares of common stock of a company that will be formed to own and operate CyrusOne, Cincinnati Bell’s Data Center business. Cincinnati Bell is assessing its ability to conduct the CyrusOne business as a real estate investment trust to determine whether it can pursue…

Marathon Petroleum Considering IPO of an MLP

Marathon Petroleum Corporation announced today that while it continues to evaluate strategic alternatives to enhance shareholder value with respect to certain midstream assets, MPC`s board of directors has authorized and directed its evaluation team to further explore the formation and initial public offering of a master limited partnership (MLP) and to prepare a registration statement….

Some Encouraging Data Points on MEDH

We have been following MedQuist closely (see our writeup dated 3/5/11 and many older posts as well).  The Company reports results next week, Tuesday August 16. Transcend (TRCR), another pure-play and competitor of MedQuist reported earnings last week and its organic revenues increased 8% year over year. Nuance Communication is a comp but not a pureplay…