Browsed by
Tag: plans

Blackstone-Backed Finance Of America Plans $1.9B SPAC Merger To Go Public: WSJ

Blackstone-Backed Finance Of America Plans $1.9B SPAC Merger To Go Public: WSJ



a close up of a laptop computer


© Provided by Benzinga



The Blackstone Group Inc (NYSE: BX)-backed Finance of America Equity LLC is planning to go public through a merger with a blank check company, the Wall Street Journal reported Monday.

What Happened: The consumer-lending platform is expected to merge with special purpose acquisition company Replay Acquisition Corp (NYSE: RPLA) in a deal that will give it a valuation of $1.9 billion, people familiar with the matter told the Journal.

Loading...

Load Error

Institutional investors would reportedly make a private investment of $250 million in Finance of America as it goes public.

The deal is expected to leave Blackstone with 70% ownership of the company.

The consumer lender was originally considering going public through an initial public offering but began negotiating with the founders of Replay Acquisition in the summer, the Journal reported.

Why It Matters: Finance of America’s services span mortgages, reverse mortgages, commercial-real-estate loans, and fixed income investing.

The flurry of activity around SPACs continues unabated. Last month, United Wholesale Mortgage, the biggest wholesale mortgage originator in the United States, was reported to be considering a merger with the blank check company Gores Holdings IV Inc (NASDAQ: GHIV) at a record valuation of $16.1 billion. 

Japanese conglomerate Softbank Group Corp (OTC: SFTBY) is also preparing to launch a SPAC in two weeks’ time as it remains flush with liquidity. 

Chamath Palihapitiya’s three SPAC firms raised $2.1 billion IPOs, last week. 

This month, Los Angeles-based Fisker Inc, an EV startup, is expected to go public by merging with Spartan Energy Acquisition Corp (NYSE: SPAQ).

Price Action: Blackstone Group shares closed almost 0.5% higher at $54.97 on Monday. On the same day, Replay Acquisition shares closed nearly 0.2% lower at $10.26.

Continue Reading
Read the rest
Developer Hines plans new Lewisville business park

Developer Hines plans new Lewisville business park

Houston-based developer Hines is ramping up its industrial building operations with a project planned in Lewisville.

Loading...

Load Error

Hines – which has been best known in North Texas for its high-profile office and apartment developments – in the last two years has worked to expand its industrial footprint in the area.

The commercial real estate firm has just filed plans for a four-building industrial park at 810 Round Grove Road near State Highway 121.

The Bison Grove Business Park project would contain almost 900,000 square feet of space and is valued at more than $32.5 million, according to filings with the state.

Construction is set to start early next year. Architecture firm Ware Malcomb designed the project.

The Denton County industrial complex is just the latest warehouse and distribution deal by Hines in the D-FW area.

Hines just leased a more than 1 million-square-foot building located south in southern Dallas to digital retail giant Amazon.

The Southlink Logistics Center is on Cleveland Road south of Interstate 20.

Hines built the project off Bonnie View Road as part of a planned larger industrial park.

In 2018, Hines has purchased an industrial park near DFW International Airport. The DFW East Logistics Center is a three-building property near State Highway 161.

More than 23 million square feet of industrial building space is currently under construction in North Texas, one of the largest such totals in the country.

———

©2020 The Dallas Morning News

Visit The Dallas Morning News at www.dallasnews.com

Distributed by Tribune Content Agency, LLC.

Continue Reading

Source Article Read the rest

5G Wireless Existential Business Plans, According to New Report by fibeReality, LLC

5G Wireless Existential Business Plans, According to New Report by fibeReality, LLC

Press release content from Business Wire. The AP news staff was not involved in its creation.

MCLEAN, Va.–(BUSINESS WIRE)–Oct 12, 2020–

fibeReality, LLC announced in a newly published study that the 5G strategy of Verizon Wireless and other mobile network operators is simply about ensuring their sheer survival because of the intense concern of running out of adequate capacity in general, based on the burgeoning data requirements of their current and near-term customers. Verizon’s 5G Enterprise: Hoarding mmWave for Viability states that although being compelled to quickly respond to getting hammered on the marketing side for full nationwide 5G offerings, especially by T-Mobile, Verizon has already gained a vital network cost and efficiency advantage in maximizing its internal scale capability, including deploying the most optimal architectural design, and encompassing its fiber support infrastructure.

“There has been a false industry-wide narrative that the main purpose of 5G is in offering subscribers unique applications broadly, and so, T-Mobile making coverage and penetration its priority, resulting in limited differentiation from 4G smartphones, while ignoring the critical investments necessary in its millimeter wave spectrum, is akin to putting the cart before the horse,” said Mark Lutkowitz, Principal at fibeReality. “At the same time, Verizon has been forced to become more cautious and tentative than usual with its 5G mmWave buildout not only based on the Covid-19 outbreak, but because of the unexpected expenses and of the additional time necessary to deal with technical difficulties.”

Regarding Verizon Wireless CAPEX, the report projects as much as a 20 percent decline in 2021 compared with fibeReality’s estimate in 2019, with a recovery to normal levels starting in 2022, including continuing work to enable its mid-band spectrum footprint. It also forecasts that the operator’s CAPEX for mmWave will be as much as a third

Read the rest
Opinion | Gina M. Raimondo, Mary Kay Henry: Women are bearing the brunt of the economic crisis. They have to lead our recovery plans.

Opinion | Gina M. Raimondo, Mary Kay Henry: Women are bearing the brunt of the economic crisis. They have to lead our recovery plans.

Even before the pandemic exposed deep disparities in our economy and society, the gender wage gap persisted at every level of income and education. In 2019, two-thirds of minimum-wage workers were women. Women carry two-thirds of all student debt in the United States. Black women graduate with significantly more debt than White men and take longer to pay it off, as they earn just 62 cents for every dollar earned by White men. In 2019, nearly a quarter of female-headed households lived in poverty; for households headed by Black or Latina women, the rates were closer to 30 percent.

Only if our recovery is inclusive can we emerge from this crisis stronger.

Inclusivity requires state leadership as well as a comprehensive national strategy to ensure women’s economic security, health and safety. Front-line workers in the pandemic have struggled to keep patients safe amid inadequate staffing and insufficient protective gear such as masks and gloves. Our nation needs policies that guarantee personal protective equipment for essential workers and safety standards that protect those on the front line and the public.

Nationwide, wages must be raised, the right to form a union must be secured, and access to basic benefits such as paid sick leave and affordable health care must be guaranteed and protected. That means breaking down the barriers that care providers confront when they try to organize unions. Workers in male-dominated professions such as manufacturing and construction were able to catapult themselves into the middle class by forming unions. Having that same right is key for women to raise their wages.

By working together in Rhode Island, we made sure that child-care workers could choose to join a union quickly and easily — something child-care workers in the Service Employees International Union (SEIU) have done in several states to win

Read the rest
What Did We Learn About Economic Plans?

What Did We Learn About Economic Plans?

On Wednesday night, Vice President Mike Pence and Democratic vice presidential nominee Kamala Harris debated at the University of Utah. It was a historic debate for many reasons—not only is Harris the first Black and South Asian woman to participate in a general election debate, but the two candidates were separated by plexiglass as a precaution to combat the spread of Covid-19.

Both candidates evaded directly answering some of the most pressing questions, including the state of President Donald Trump’s health and transfer of power. Pence interrupted Harris multiple times, prompting her to interject with a now viral quote, “Excuse me, I’m still speaking.” A fly sat on Pence’s head for a full two minutes.

Despite the deflections and distractions, there was substantial discussion about the economy and plans for the future.

What Did We Learn About Each Campaign’s Plans For The Economy? 

Economic Recovery

Moderator Susan Page asked the candidates how they would pull the economy out of its current employment slump, citing that nearly 11 million jobs have been lost since the beginning of the year. 

Harris responded by providing details on Biden’s plan to repeal a tax bill passed by Trump that benefits “the top one percent and the biggest corporations of America, leading to a two trillion dollar deficit that the American people are going to have to pay for” Harris said. 

Harris added that the tax cut would be instead reinvested into Americans, and Biden would focus on investing in infrastructure to create new jobs.

Read the rest