FOCS News

Companies are continuing to rush out IPOs before the mid-August lull. This past week saw 11 IPOs and one SPAC raise $3.4 billion. Nine went public with market caps over $1 billion, including Chinese e-commerce app Pinduoduo, the sixth-largest tech company ever to list in the US. It and other growth stocks took home the best returns, led by VC-backed fuel cell...read more

Consolidator of registered investment advisor (RIA) practices Focus Financial (FOCS) believes that investors want unbiased wealth management advice.  Since its founding in 2004 with four RIAs, backed with $25 million from Summit Partners, it has acquired another 52 RIAs and is now backed by new investors Stone Point and KKR. Its IPO is seeking a market capitalization of...read more

Focus Financial Partners, which operates a national network of more than 50 independent wealth managers, raised $535 million by offering 16.2 million shares at $33, below the range of $35 to $39. At IPO, the company commands a market cap of $2.0 billion. Focus Financial Partners plans to list on the Nasdaq under the symbol FOCS. Goldman Sachs, BofA Merrill Lynch, KKR, BMO Capital...read more

Focus Financial Partners, which operates a national network of more than 50 independent wealth managers, announced terms for its IPO on Monday. The New York, NY-based company plans to raise $600 million by offering 16.2 million shares at a price range of $35 to $39. At the midpoint of the proposed range, Focus Financial Partners would command a fully diluted market value of...read more