Zipline Raises $1.5 Billion at $21.5 Billion Valuation
Zipline International Inc. raised $1.5 billion at a $21.5 billion post-money valuation, betting that retail and ride-hailing partners will turn drone delivery from a pilot project into a national network. The round announced Thursday was led by Paradigm, WCM Investment Management and Layer Global. Valor Equity Partners, Fidelity Management & Research, Uber Technologies, Tiger Global, […]
SS&C Prices $1.05 Billion Convertible Notes in Refinancing
SS&C Technologies Holdings Inc. priced an upsized $1.05 billion convertible note offering as the centerpiece of a broader refinancing that will retire $2 billion of higher-coupon bonds and extend its bank facilities into 2031. The 2.75% convertible senior notes due Dec. 1, 2031, were increased from a planned $1 billion and are scheduled to settle […]
Shield AI to Buy Echodyne for $5.3 Billion, Raises $2.5 Billion
Shield AI Inc. agreed to acquire Echodyne Corp. in a transaction valued at $5.3 billion and raised $2.5 billion of equity and debt at a $28.8 billion valuation, pairing its autonomy software with a radar maker that has become a key supplier for counter-drone missions. Under the definitive agreement announced Thursday, Shield will pay $4.8 […]
Fortescue Prices $1.5 Billion Notes Swapped Into Renminbi
Fortescue Ltd. priced $1.5 billion of senior unsecured notes and immediately swapped the entire principal into offshore renminbi, locking in an effective interest cost of about 3.9% on debt that carries a 7.0% dollar coupon. The notes, due Nov. 15, 2032, were issued by Fortescue Treasury Pty Ltd and guaranteed by the Australian iron-ore producer. […]
CesiumAstro Closes $730 Million Series D Above $4.5 Billion Value
CesiumAstro Inc. closed a $730 million Series D round at a valuation above $4.5 billion and unveiled plans for Synchronicity, a 737-satellite constellation, after a successful Element-1 demonstration flight in October. Janus Henderson Investors led the equity round. Insight Partners, Sands Capital, Sumitomo Corporation of Americas, Woven by Toyota, Incharge Capital, Magnetar Capital, Alumni Ventures […]
Buncombe Voters Approve $70 Million Housing, Parks Bonds
Voters in Buncombe County, N.C., approved $70 million of new local bonds for affordable housing and open space, clearing the way for a municipal debt sale that county officials say will cost the median homeowner a few dozen dollars a year. Unofficial returns showed the $40 million housing question passing with about 58% support and […]
Autonomy’s Price Tag: $5.3B Radar, $21.5B Delivery Routes
Private markets put two very different price tags on flying machines in the same news cycle. Shield AI raised money at a $28.8 billion valuation to buy radar maker Echodyne for $5.3 billion. Zipline raised $1.5 billion at $21.5 billion to push drone delivery from dozens of sites toward hundreds. One company is selling autonomy […]
Apple Raises $7.5 Billion in Seven-Part Bond Sale
Apple Inc. raised $7.5 billion in a seven-part investment-grade bond sale, drawing roughly $31 billion of investor orders and pricing its longest tranche tighter than recent deals from other large technology and financial issuers. The Cupertino, Calif., company sold $500 million of floating-rate notes due 2028 at the Secured Overnight Financing Rate plus 22 basis […]
ANI Pharmaceuticals Offers $560 Million for Sweden’s Egetis
ANI Pharmaceuticals Inc. launched a recommended public cash offer for Egetis Therapeutics AB, valuing the Swedish rare-disease company at about $560 million and adding Emcitate, the first approved treatment for MCT8 deficiency, to its specialty portfolio. The Baudette, Minn., company is offering 11.25 Swedish kronor a share, a premium of about 27% to Egetis’s 60-day […]
Alfa Laval to Buy Maritime Software Firm NAVTOR for $700 Million
Alfa Laval AB agreed to buy NAVTOR AS, a Norwegian maritime software company, for about $700 million in cash, adding electronic navigation and vessel-performance tools to the Swedish industrial group’s Ocean Division. The all-cash price of 6.85 billion Swedish kronor was announced Friday. NAVTOR supplies e-navigation charts, voyage planning and performance analytics to shipowners and […]