The initial public offering market is showing signs of life again. And the optimism following the strong debuts for Reddit and AI cloud infrastructure company Astera Labs appears to be spreading. Case in point: A closed-end fund that invests in Elon Musk’s SpaceX, Fortnite maker Epic Games, OpenAI, fintech giants Stripe and Chime and other
Published: Feb. 12, 2024 at 2:19 a.m. ET By Joe Hoppe Tritax Big Box said it has reached an agreement to take over UK Commercial Property REIT in an all-share offer, valuing the company at around 924 million pounds ($1.17 billion). The commercial-property investor said UK Commercial Property investors will receive 0.444 new ordinary Tritax
Published: Feb. 8, 2024 at 6:41 a.m. ET By Christian Moess Laursen One of the largest pension funds in the Netherlands, PFZW, has sold all of its stakes in Shell, BP and TotalEnergies, saying they aren’t investing fast enough in the switch from fossil to low-carbon fuel. PFZW–which managed around $256 billion at the end
Published: Jan. 25, 2024 at 5:19 p.m. ET By Sabela Ojea Northern Star Investment is liquidating its trust account after failing to consummate an initial business combination by its deadline, but it intends to continue operating. The blank check company on Thursday said it will allow shareholders to continue to retain their shares so they
Spirit Airlines came out fighting Friday as it looked to reassure investors with improved guidance and steps it has taken to shore up liquidity. The company also said it was assessing options to refinance 2025 debt maturities, which credit ratings agency Fitch described as a “significant refinancing risk” earlier this week. Shares of Spirit Airlines
Published: Jan. 16, 2024 at 6:22 p.m. ET Walt Disney Co.’s board on Tuesday nominated a slate of 12 directors that notably left out activist investors from Trian Fund Management (Nelson Peltz, James Rasulo) and Blackwells Group (Craig Hatkoff, Jessica Schell, Leah Solivan), both of which have been highly critical of Disney Chief Executive Robert
Vanguard’s decision to not offer its users access to bitcoin ETFs has sparked a backlash among some customers, who have decided to close their brokerage accounts and move their money to other platforms. Vanguard users have found themselves unable to buy shares in spot bitcoin ETFs, which started trading on Thursday after the U.S. Securities
The number of shorted shares has grown 23% since the end of 2020, but that doesn’t mean traders are getting more bearish about the market. Thanks to an array of initial public offerings and stock splits, the total number of stock shares has ballooned since the end of 2020—which means the relative short interest has