Uber, Nvidia-backed Serve Robotics hits public markets with $40M splash [TechCrunch]
Magna International, Inc. (MGA)
Last magna international, inc. earnings: 2/21 05:00 am
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Source: TechCrunch
latest startup to choose going public via a reverse merger as an alternative path to capital needed to fund growth. The company, which spun out of Uber's acquisition of Postmates in 2021, hits the Nasdaq under the ticker “SERV” with gross proceeds of roughly $40 million — “prior to deducting underwriting discounts and offering expenses,” per regulatory filings — at a share price of $4. Serve completed its reverse merger with blank-check company Patricia Acquisition Corp in August 2023, and at the same time secured $30 million in a round led by existing investors Uber, Nvidia and Wavemaker Partners, bringing its total amount raised at the time to $56 million. While Serve's debut in the public markets comes from a reverse merger and not a SPAC, the two alternate paths to IPO are not too dissimilar. They both provide startups with a faster route to public markets. However, pulling this particular financial lever has its risks, especially if the company is pre-revenue or bringing in v
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MGA
News
- Magna Wins 2024 Automotive News PACE Award, Receives PACEpilot RecognitionsGlobeNewswire
- Magna (MGA) Earnings Expected to Grow: What to Know Ahead of Next Week's Release [Yahoo! Finance]Yahoo! Finance
- Global Automotive Surround View Systems Market Poised for Substantial Growth, Reaching US$ 18.7 Billion by 2032 [Yahoo! Finance]Yahoo! Finance
- Automotive Intelligent Door System Market To Reach USD 6.8 Billion By 2032 | DataHorizzon Research [Yahoo! Finance]Yahoo! Finance
- Magna International Inc. (NYSE: MGA) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
MGA
Earnings
- 2/9/24 - Miss
MGA
Sec Filings
- 4/2/24 - Form 6-K
- 3/29/24 - Form 6-K
- 3/28/24 - Form 40-F
- MGA's page on the SEC website