First Cover

Ategrity Specialty Insurance Co., a provider of excess and surplus lines coverage for small- and mid-sized U.S. businesses, has filed for an IPO, highlighting its robust financial growth. The New York-based insurer reported $344 million in revenue and $47 million in net income for 2024—up sharply from $241 million in revenue and $10 million in profit the previous year.? #IPO #InsuranceIndustry #FinanceNews #BusinessGrowth #WallStreet #FirstCover

According to internal Nike documents and testimony, a shareholder lawsuit claims the company's flawed business plan caused inventory surplus, rising costs, and market share decline. In fall 2023 internal meetings, Nike executives reportedly acknowledged the strategy's failure, prompting shareholder backlash. The suit also alleges Nike's excessive reliance on direct sales and third-party logistics hurt shareholder value, demanding damages and management reforms. #Nike #ShareholderLawsuit #InventorySurplus #MarketShare #StrategyFailure #FirstCover

Congratulations to our client, Maywood Acquisition Corp. (NASDAQ: MAYA), on ringing the Nasdaq opening bell! ?? Wishing them a successful De-SPAC journey ahead!? #Nasdaq #DeSPAC #MaywoodAcquisition

OpenAI has entered into a five-year, $11.9 billion agreement with CoreWeave, an AI infrastructure provider backed by Nvidia, ahead of CoreWeave’s anticipated IPO. As part of this deal, CoreWeave will issue $350 million in shares to OpenAI through a private placement during its market debut; however, CoreWeave will not receive any proceeds from this issuance. #OpenAI #CoreWeave #TechNews #IPO #FirstCover

A March 3, 2025 joint survey by Kearney and climate media platform We Don’t Have Time of over 500 CFOs shows 92% plan to increase sustainability investments. Over 60% of respondents plan to allocate more than 2.1% of their revenue to sustainability. The majority of CFOs have adjusted their business case evaluation models to include sustainability considerations. More than half of the respondents expect to significantly increase investments, and 69% anticipate a higher ROI from sustainability initiatives compared to traditional investments. #SustainabilityInvestment #EvaluationModel #Kearney #WeDontHaveTime #ROI

Cineworld Group is considering a potential IPO, with advisory support from JPMorgan Chase & Co. and Barclays Plc. The listing may exclude its UK assets if a sale is feasible. Additionally, the company is evaluating merger opportunities with competitors such as AMC and Cinemark, though regulatory hurdles may complicate such a move. Emerging from Chapter 11 bankruptcy in 2023, Cineworld aims to use IPO proceeds for further upgrades to its US theaters. A listing is targeted for between late 2025 and early 2026, contingent on market conditions and company performance. #Cineworld #IPO #MergersAndAcquisitions #AMC #FirstCover

Canadian cannabis company Aphria Inc. has agreed to pay US$30 million to settle a class action lawsuit filed by shareholders. The lawsuit alleged that Aphria overstated the value of assets during its 2018 acquisitions of Nuuvera Inc. and LATAM Holdings Inc., resulting in significant stock price declines. The settlement agreement explicitly states that Aphria and individual defendants deny all allegations, and the resolution does not constitute an admission of liability. The settlement funds will primarily be covered by insurance policies and contributions from individual defendants, with no material financial impact expected on the company. The agreement remains subject to court approval, with a hearing scheduled for March 26. #ClassActionLawsuit #ShareholderSettlement #Misrepresentations #InsurancePolicies

GlaxoSmithKline (GSK) is facing a new investor lawsuit despite its recent $2.2 billion settlement over Zantac. The proposed class-action, filed in Pennsylvania, claims GSK concealed an internal report from 1982 that raised concerns about the cancer-causing risks of Zantac. The lawsuit alleges that GSK failed to disclose the potential carcinogenic compound N-nitrosodimethylamine (NMDA) created when ranitidine interacted with nitrites. Investors accuse the company of misleading the market and causing financial harm. They are seeking damages for violations of federal securities laws, covering purchases of GSK shares between 2020 and 2022. #GSK #Zantac #InvestorLawsuit #SecuritiesLaws #LegalAction #CorporateGovernance #FirstCover

Johnson & Johnson is set to report fourth quarter earnings on Wednesday. Analysts expect growth in revenue and net income. Despite a decline in its stock price in 2024, the company is anticipated to see a rebound in the coming months. Analysts are cautiously optimistic, with an average target price of 175 dollars, suggesting a potential 19 percent upside. However, the company faces challenges, including unresolved class action lawsuits and the expiration of a key drug patent. Additionally, its AAA credit rating is at risk due to the 14.6 billion dollar acquisition of Intra Cellular Therapies. https://lnkd.in/eh4TkHYx

Venture Global Inc., a leading U.S. LNG exporter, is preparing to launch a $2.3 billion IPO, the largest energy-sector public offering in over a decade. The company plans to sell 50 million shares priced at $40–$46 each, potentially achieving a $110 billion valuation. Founders Mike Sabel and Bob Pender will maintain control through Class B shares, securing majority voting rights. #VentureGlobal #IPO #EnergySector #USMarkets #InvestmentNews #FirstCover https://lnkd.in/eMdCuY89