Crypto News 

Report: Bitmain IPO Document Reportedly Reveals $500 Million Q3 Losses

“Bitcoin (BTC) mining giant Bitmain could have made losses of around $500 million in Q3 last year, industry magazine CoinDesk reported on Feb. 19, citing a company document” writes William Suberg for cointelegraph.com. The company also released its new Bitcoin mining hardware chip this week.If the information is correct, the assumption is that Q3 cost Bitmain $500 million in losses, corroborating a widely-held theory that the accelerating Bitcoin bear market late last year took a serious toll on the mining sector. Source: cointelegraph.com

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News 

Lyft to woo investors with fast U.S. growth in IPO race with Uber

“Given that both Uber and Lyft are still losing money, investors will be focused on their growth and potential for future profitability” reports businessinsider.com. So Lyft will be seeking to assure IPO investors it represents an attractive bet compared to its more established competitor, people familiar with its marketing strategy said.Lyft plans to tell investors its U.S. market share is approaching 40 percent, up from 35 percent in early 2018, the people said. Source: businessinsider.com

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News Stocks 

Levi Strauss plans to go public — again. Files IPO under symbol LEVI

“Levi’s said that it plans to use the proceeds from going public for “general corporate purposes,” including working capital, operating expenses and capital expenditures” writes Amelia Lucas for cnbc.com. According to the filing, the company sees the opportunity to expand its presence in emerging markets like China, India and Brazil.Levi’s went public for the first time in 1971, but descendants of the founder took the company private again in 1985. Source: cnbc.com

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Iconic jeans company Levi Strauss files for IPO

“The company said it is planning to raise up to $100 million, although that sum is likely a placeholder” writes Ciara Linnane for marketwatch.com. Twelve banks have been mandated to underwrite the deal, led by Goldman Sachs and JPMorgan.Proceeds of the deal will be used for general corporate purposes, including acquisitions or other strategic investments, as well as for operating costs and capex. Source: marketwatch.com

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Gossamer Bio trading 3% above initial IPO price

“GOSS, +3.13% opened at $19 Friday on the Nasdaq COMP, -0.73% , or 19% above its initial public offering price of $16, before falling back to $16.50, or 3% above the initial IPO price” writes Sarah Toy for marketwatch.com. The IPO priced on Thursday evening, with the company selling 17.25 million shares to raise $276 million.The first trade crossed at 11:22am Eastern for 762,609 shares. Source: marketwatch.com

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News Platforms 

Postmates confidentially files for IPO

“(Reuters) – Grocery and food delivery platform Postmates Inc said on Thursday it had confidentially filed for an initial public offering with the U.S. Securities and Exchange Commission” writes Min Read for reuters.com. Ride hailing service providers Uber and Lyft, as well as business messaging platform Slack have all confidentially filed for their IPOs in recent weeks.The San Francisco, California-based company was valued at $1.85 billion in its latest funding round, Recode said in January.The initial public offering is expected to start after the completion of the SEC review process,…

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Biopharma company Alector prices IPO at $19, midpoint of price range

“The company sold 9.25 million shares to raise $175.8 million” writes Ciara Linnane for marketwatch.com. ALEC, +0.00% priced its initial public offering at $19 a share, the midpoint of its $18 to $20 range, according to Nasdaq.Shares will start trading on Nasdaq later Thursday, under the ticker symbol “ALEC”.Biopharmaceutical company Alector Inc. Source: marketwatch.com

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Markets News Stocks 

This could be the biggest IPO year ever, and there are two ways to get in on the action

“The IPO ETF has far outpaced the rest of the market this year” writes Keris Lahiff for cnbc.com. For the investor looking for exposure to the red-hot IPO market, CFRA senior director Todd Rosenbluth has a way to play it: Renaissance Capital’s U.S. IPO ETF. “You get Altice, you get Snap, you get Spotify,” Rosenbluth told CNBC’s “ETF Edge” on Monday.However, the relatively short time frame before a stock is rotated out of the IPO ETF means investors might be shut out of potential growth, Astoria Portfolio Advisors CIO John…

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Slack’s anticipated IPO is still expected to be an unusual ‘direct listing,’ …

“Slack has a ton of investors, ranging from classic Silicon Valley VCs like Andreessen Horowitz, to mega-investor SoftBank Vision Fund” writes Julie Bort for businessinsider.com. A direct listing doesn’t have bankers as intermediaries buying and selling an initial batch of shares, so the company doesn’t pay the banks big commission fees for that service. Source: businessinsider.com

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Markets News 

Slack confidentially files for IPO

“The San Francisco-based cloud collaboration platform, which was launched back in 2013, was one of a number of technology companies expected to go public in 2019” writes Paul Sawers for venturebeat.com. Slack has finally filed to go public, in what will be one of the most hotly anticipated initial public offerings (IPOs) from the technology industry in 2019. Additionally, Slack could become the second major technology company in the space of a year to pursue a direct listing, according to reports, after Spotify did so last year.Other notable names include…

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