Known for its iconic glazed doughnuts, Krispy Kreme (DNUT), raises $500 million as it goes public.
Why this matters: This IPO would mark the company’s return to the U.S. stock market five years after it was taken private by JAB Holding in a $1.35 billion deal in 2016. The company priced 29.4 million shares at $17 each – below the $21 to $24 per share range it had set earlier. The company is currently trading under the ticker symbol “DNUT”. (Yahoo Finance)
Google aims to tighten UK policy on financial ads
Google (GOOG) has decided to only allow regulator-authorized financial entities to run ads for financial products and services.
Why this matters: This update follows warnings from the Financial Conduct Authority that it may take legal action if Google continued to accept unscreened financial ads. The UK financial watchdog has been concerned about financial scam ads running on social media platforms. In 2018, U.K. consumer advice personality, Martin Lewis, filed a defamation suit against Facebook which led the social media giant to add a “report scam ad” button. (Yahoo Finance)
Virgin Galactic to launch Richard Branson on July 11
Space tourism, Virgin Galactic (SPCE) has announced that the company will attempt to launch its next test spaceflight on July 11, carrying founder Sir Richard Branson.
Why this matters: Branson is aiming to beat fellow billionaire, Jeff Bezos, to space as the latter plans to launch with his own company on July 20. This will be the company’s fourth test spaceflight and its first mission with a crew of four on board. The company announced last month that the Federal Aviation Administration granted it a license to fly passengers on future spaceflights. Virgin Galactic is currently up nearly 30% in premarket trading. (CNBC)