Suks Investor momentum builds for construction tech
Last night, consumer DTC shoe company Allbirds, backed by an ocean of private capital
nike airforce , priced its IPO at $15 per share, $1 above its expected range. The company also registered an extra million shares for its offering, adding to its heft and the general positive vibe of its upcoming IPO.This brings us back to our on
nike air force going conversation regarding the value of tech-enabled unicorns busy finding public-market liquidity.Recall that when Rent the Runway priced its IPO, it was worth just over 7x its July 31, 2021 run rate quarter times four . The fact that the company has since suffered sharp declines from $21 to roughly $16 per share post-debut is not material; we care about IPO prices, not post-listing moves.Earlier, we noted tha
airmaxplus t at $14 per share and the previously slightly lower share count, Allbirds would be worth just under 9x its current annual run rate on a fully diluted basis. At $15 per share, and with an extra million shares, Allbirds is worth mid-9x its current run r Pcmh Disrupt 2024 early-bird tickets fly away next Friday
The money will not go toward the factory. In
adidas campus stead, it will be used for the more pressing matter of keeping the company running. Under terms of the deal, investors will receive preferred stock and warrants to buy shares. An annual dividend will be paid out in shares of Workhorse stock.The Cincinnati-based company is small, with fewer than 100 employees. Its biggest problem isn ;t ideas or even product pipeline; it capital.Workhorse has struggled financially at various points since its founding in 1998.聽The company reported just $364,000 in revenue in the first quarter, down from $560,000 in the same period last year. As of March 30, 2019, the company had cash, cash equivalents and short-term investments of $2.8 million, compared to $1.5 million as of December
mizuno running 31, 2018.Workhorse borrowed $35 million from hedge fund Marathon Asset Management earlier this year.Workhorse, which was onc
new balance 990 e owned by Navistar and sold in 2013 to AMP Holding, has a customer pipeline for its electric