Warrington in the News Articles: page 24

Research insights collected by Cordell Eminent Scholar Jay Ritter helps inform this opinion piece from Chris Bryant about his unsympathetic feeling to the Meta shareholders’ plight.

Cordell Eminent Scholar Jay Ritter comments on the planned merger between Miami-based Digital World and Donald Trump’s media venture, and how investor confusion on SPAC rules has challenged the deal.

Cordell Eminent Scholar Jay Ritter shares insights for this story on the Big Four accounting firms’ avoidance of audit work when SPACs became Wall Street’s favorite way to take companies public, leaving smaller outfits churning out hundreds of fast, cheap audits of the blank-check vehicles. For those freshly minted public companies that emerged from the boom, it’s been a different story.

An initial public offering is a once-in-a-lifetime moment for a company. Except when it isn’t. When Mobileye Global lists shares in its IPO next week, it’ll be for the second time.

Companies going public for a second or third time typically have more muted stock-market debuts than other IPOs, but they tend to outperform over the next three years, according to data compiled by Jay Ritter, Cordell Eminent Scholar at the University of Florida’s Warrington College of Business.

A SPAC that counts former US House Speaker Paul Ryan as chairman became the latest vehicle to be bailed on by investors who want their money back. Executive Network Partnering Corp. saw roughly 95% of its investors opt to swap their shares for $10 when they voted on a tie-up with oil and gas company Granite Ridge Resources Inc.

“Shareholders have an incentive to approve even a bad deal because the warrants can still have value,” Jay Ritter, Cordell Eminent Scholar, said. “And if the stock falls near $10 they can redeem and get the money back.”

Cordell Eminent Scholar Jay Ritter shares insights for this story on Nasdaq Inc. putting the brakes on the initial public offering (IPO) preparations of at least four small Chinese companies while it investigates short-lived stock rallies of such firms following their debuts, according to lawyers and bankers who work on such stock launches.

After James Corden was accused of being ‘nasty’, W.A. McGriff, III Professor Amir Erez explains why rudeness doesn’t pay.

Director of Energy Studies Ted Kury explains how critical it is to make electric grids more resilient before the next big storm.

“A key consideration with a complicated system like the electricity grid is understanding the rights and responsibilities of all stakeholders — from service providers and customers to the government,” Kury writes.

The tech firm wants to bring mainstream investors—and their advisors—into the IPO process, territory once reserved for favored clients, insiders and underwriters. But to take on Wall Street’s reliable revenue generator, many moving pieces will have to fall into place.

“Lots of people have complained for decades about how inefficient the process is for pricing and allocation in IPOs,” said Jay Ritter, Cordell Eminent Scholar, and a longtime researcher in the area of IPOs.

California has been generating the most initial public offerings of any US state every year since 2003. That streak could end this year unless the Golden State picks up the pace.

California’s change of fortune is explained largely by the drop in valuations among Silicon Valley’s tech startups, said Jay Ritter, Cordell Eminent Scholar. “It is almost entirely just a reset of valuations,” he said.