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Market Information

18th August 2020

Tuesday, August 18, 2020

Today, we feature news updates on three Secondary Opportunities on thePrimaryMarketsPlatform,Palantir Technologies,Impossible FoodsandKabbage.




Palantir Plans Direct Listing for Late September 2020

Palantir Technologies is planning to go public through a direct listing of its shares in late September 2020, according to people familiar with the matter.

A direct listing would allow the company’s current investors to sell their shares on the first day of trading rather than having to wait for a lock-up period to expire, as would be required in a traditional initial public offering. Unlike an IPO, though, the company doesn’t raise capital in a direct listing.

For more Secondary Trading information Click Here.
Impossible Foods Raises $200M in Series G Funding

Impossible Foods, a Redwood City, Calif.-based food tech company, secured $200M in Series G funding.

The round was led by new investor Coatue with participation from existing investors Mirae Asset Global Investments and Temasek as well as new investor XN. In addition to blue-chip institutional investors, Impossible Foods’ existing individual investors include Jay Brown, Common, Kirk Cousins, Paul George, Peter Jackson, Jay-Z, Mindy Kaling, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, Serena Williams, will.i.am and Zedd.

The start-up which has raised about $1.5B since its founding in 2011, will use the funds to expand its research and development programs, accelerate its manufacturing scaleup, increase its retail presence and its availability in key international markets, and accelerate commercialization and development of next-generation, plant-based products, such as Impossible™ Pork Made From Plants, milk, steak and other foods.

For more Secondary Trading information Click Here.

AMEX in Advanced Talks to Buy Kabbage

American Express’s small-business aspirations just took another step forward. The credit card giant is in advanced talks to buy Kabbage, a person familiar with the matter said, a deal that would make Amex a bigger lender to mom and pop shops. The company is already the largest U.S. provider of credit cards to those types of operations.

Small businesses bounced back faster during the COVID-19 pandemic than other customers in Amex’s broader card portfolio, and Chief Executive Steve Squeri said last month that they were the “most resilient” through the crisis.

“Ninety days on now, we actually feel really good about the small-business portfolio,” Chief Financial Officer Jeff Campbell said last month, adding that a smaller percentage of balances in forbearance are tied to those loans. “Those numbers have come way down.”

The all-cash deal could see Amex paying as much as $850M for the closely held lender.

For more Secondary Trading information Click Here.




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