SPAC News: 13 Things to Know About a Finance of America IPO

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Finance of America news for Tuesday includes an initial public offering (IPO) through special purpose acquisition company (SPAC) Replay Acquisition (NYSE:RPLA).

Source: Shutterstock

Here’s what potential investors need to know about the SPAC news.

  • Finance of America will become a publicly-traded company by merging with Replay Acquisition.
  • This plan values the lending company at $1.9 billion.
  • The transaction already has $250 million in confirmed support from investors via a private investment in public equity (PIPE) of $10 per share.
  • Cash proceeds for the new company include that PIPE funding and $288 million of cash in trust belonging to Replay Acquisition.
  • This should allow the company to begin public operations with a minimum of $250 million in cash and cash equivalents.
  • One thing worth noting about this SPAC news is the support from Blackstone Tactical Opportunities.
  • This is a
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13 Things to Know About a Finance of America IPO



a close up of a clock: "Going Public" is displayed in white text on a digital ticker tape.


© Source: Shutterstock
“Going Public” is displayed in white text on a digital ticker tape.

Finance of America news for Tuesday includes an initial public offering (IPO) through special purpose acquisition company (SPAC) Replay Acquisition (NYSE:RPLA).



a clock on the top of a green screen: "Going Public" is displayed in white text on a digital ticker tape.


© Provided by InvestorPlace
“Going Public” is displayed in white text on a digital ticker tape.

Here’s what potential investors need to know about the SPAC news.

  • Finance of America will become a publicly-traded company by merging with Replay Acquisition.
  • This plan values the lending company at $1.9 billion.
  • The transaction already has $250 million in confirmed support from investors via a private investment in public equity (PIPE) of $10 per share.
  • Cash proceeds for the new company include that PIPE funding and $288 million of cash in trust belonging to Replay Acquisition.
  • This should allow the company to begin public operations with a minimum of $250 million in cash and cash
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Riverstone’s SPAC Decarbonization Plus Acquisition lowers deal size by 33% ahead of $200 million IPO

Decarbonization Plus Acquistion, a third blank check company formed by Riverstone targeting businesses advancing global decarbonization, lowered the proposed deal size for its upcoming IPO on Tuesday.

The Menlo Park, CA-based company now plans to raise $200 million by offering 20 million units at a price of $10. The company had previously filed to offer 30 million units at $10. Each unit now consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Units previously contained one-third of a warrant. At the revised deal size, Decarbonization Plus Acquistion will raise -33% less in proceeds than previously anticipated.

The company is led by CEO and Director Erik Anderson, founder and CEO of investment firm WestRiver Group, and CFO and CAO Peter Haskopoulos, a Managing Director and CFO of Riverstone. Riverstone co-founders Pierre Lapeyre and David Leuschen will serve as Directors. The company plans

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EXCLUSIVE-Chinese regulatory probe delays approval for Ant’s IPO, sources say

By Julie Zhu and Zhang Yan

HONG KONG/BEIJING, Oct 13 (Reuters)China’s securities regulator is probing a potential conflict of interest in fintech giant Ant Group’s planned $35 billion stock listing, delaying approval for what could be the world’s largest IPO, three people with direct knowledge of the matter said.

The China Securities Regulatory Commission (CSRC) is looking into the role of Alipay, Ant’s flagship payment platform, as the only third-party channel through which retail investors could buy into five Chinese mutual funds investing in the IPO, the people told Reuters, speaking on condition of anonymity.

The arrangement sidelined banks and brokerages, the traditional route for retail investors to buy into funds. More than 10 million retail investors piled money into the five mutual funds when they were launched in late September, underscoring the marketing clout of Alipay.

The CSRC said in guidelines effective from Oct. 1 that

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Blackstone-Backed Finance of America Is Set for IPO

Consumer-lending platform and

Blackstone Group Inc.


BX 0.46%

portfolio company Finance of America Equity Capital LLC is set to go public with a valuation of $1.9 billion through a blank-check merger, this year’s hottest way to list shares, according to people familiar with the matter.

Finance of America is set to merge with the special-purpose acquisition company, or SPAC,

Replay Acquisition Corp.


RPLA -0.58%

, the people said. In conjunction with the merger, institutional investors will also make a private investment of $250 million in the company. In all, the deal will leave the consumer lender’s founder and funds managed by Blackstone with a 70% ownership stake.

SPACs are all the rage in 2020, quickly having become a favored way for companies to go public in a year when initial public offerings are hotter than ever. Their popularity is a sign that there is more demand for newly listed companies

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Polish E-Commerce Company Allegro Lights up Europe’s IPO Market | Technology News

By Anna Banacka and Anna Koper

WARSAW/GDANSK, Poland (Reuters) – Shares in Polish e-commerce group Allegro leapt more than 60% on their debut on Monday, giving the company a market value of almost $19 billion in Europe’s biggest initial public offering (IPO) so far this year.

Founded more than 20 years ago as a home-grown rival to eBay, Allegro is central Europe’s most recognised e-commerce brand and its website is attracting 20 million visitors a month as consumers go online during the COVID-19 pandemic.

Allegro’s strong start mirrored the performance of some recent IPOs in the United States where shares have shot up as investors showed they were willing to pay for companies with potential for growth.

Last month, British e-commerce firm The Hut Group made the biggest debut on the London Stock Exchange in seven years and Allegro’s successful launch was a further sign the European IPO market is

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Praxis Precision Medicines Readies $126 Million IPO (Pending:PRAX)

Quick Take

Praxis Precision Medicines (PRAX) has filed to raise $126 million in an IPO of its common stock, according to an S-1 registration statement.

The firm is developing drug treatment candidates for central nervous system disorders.

PRAX has produced intriguing early efficacy results for its lead candidate and the IPO, while not cheap, is worth consideration.

Company & Technology

Cambridge, Massachusetts-based Praxis was founded to advance a pipeline of treatments for both broad psychiatric-related and rare diseases of the central nervous system having to do with neuronal imbalances.

Management is headed by president and Chief Executive Officer Mr. Marcio Souza, who has been with the firm since April 2020 and was previously Chief Operating Officer at PTC Therapeutics.

Below is a brief overview video of symptoms of major depressive disorder:

Source: Psych Hub Education

The company’s lead candidate, PRAX-114, is being developed to treat major depressive disorder as both

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If You Invested $10,000 in Livongo Health’s IPO, This Is How Much Money You’d Have Now

Livongo Health (NASDAQ:LVGO) stands out as one of the stocks that have benefited tremendously from the COVID-19 pandemic this year. The company’s digital health platform helps individuals manage chronic conditions like diabetes and hypertension. With the pandemic increasing the need for remote health monitoring and personalized healthcare, Livongo was in the right place at the right time.

Some investors were also in the right place at the right time by buying Livongo shares at the company’s initial public offering last year. They’ve won big from the rise of the healthcare stock in 2020. Here’s how much you would have now if you’d invested $10,000 in Livongo Health’s IPO.

Smiling woman holding a smartphone with images of dollar signs over it.

Image source: Getty Images.

Counting the cash

If you’d been able to buy at Livongo’s IPO price of $28, an initial investment of $10,000 would have given you 357 shares. If we assume you didn’t buy partial shares, you would’ve had a

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If You Invested $1,000 in Gilead Sciences’ IPO, This Is How Much Money You’d Have Now

Gilead Sciences (NASDAQ:GILD) has been in the news lately, with President Trump receiving doses of Gilead’s experimental antiviral drug Veklury (remdesivir) earlier this month to help treat his coronavirus infection. It’s already been an up-and-down year for Gilead — in March, the stock hit a 52-week high of $85.97 on hopes that Veklury, originally tested to fight Ebola, would be the big answer to ending the coronavirus pandemic.

The stock slowly came down to earth, however, hurt by a May report in the New England Journal of Medicine that said Veklury only shortened the time of hospitalization by four days in COVID-19 patients, compared to a placebo.

Earlier in October, the stock was trading at about $62 a share, which — while a long way from $85 — is more than three times what it went for after its initial public offering (IPO) in January of 1992.

Businessman holding onto a climbing arrow that shows compounding interest.

Image source: Getty

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IPO Calendar: October 12 – 16, 2020

Five IPOs are scheduled for the week ending October 16, 2020. 25-day underwriter research quiet periods end for 15 companies. There are no scheduled 180-day shareholder sale lockup period expirations.

Monday, October 12

Quiet End:

Outset Medical, (OM), Medical Devices

Snowflake, (SNOW), Enterprise IT

StepStone, (STEP), Financial Services

Metacrine, (MTCR), Biopharma

JFrog, (FROG), Enterprise IT

Dyne Therapeutics, (DYN), Biopharma

Broadstone Net Lease, (BNL), REIT

Sumo Logic, (SUMO), Enterprise IT

American Well Corporation, (AMWL), Healthcare IT

Pactiv Evergreen, (PTVE), Consumer

Unity Software, (U), Digital Media

Athira Pharma, (ATHA), Biopharma

Vitru, (VTRU), EdTech

BioVie, (BIVI), Biopharma

COMPASS Pathways, (CMPS), Biopharma

Tuesday, October 13

IPO Price:

Codiak BioSciences, (CDAK), Biopharma, $14.00 – $16.00, IPOs On TheStreet Opinion: BUY – Read It

Wednesday, October 14

IPO Price:

Array Technologies, (ARRY), Alternative Energy, $19.00 – $21.00, IPOs On TheStreet Opinion: BUY – Read It

MINISO Group, (MNSO), Retail, $16.50 – $18.50, IPOs On TheStreet Opinion:

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