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Brightline's rebranded Virgin Trains USA files for a $100 million IPO


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Virgin Trains USA, which owns and operates an express passenger rail system in Florida, filed on Friday with the SEC to raise up to $100 million in an initial public offering.The company also announced its partnership with Virgin Group and plans to rebrand from "Brightline" to "Virgin Trains USA."

The Miami, FL-based company was founded in 2013 and booked $5 million in sales for the 12 months ended September 30, 2018. It plans to list on the Nasdaq under the symbol VEL. Virgin Trains USA filed confidentially on April 24, 2018. Barclays, J.P. Morgan and Morgan Stanley are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Brightline's rebranded Virgin Trains USA files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: News Headlines , IPOs



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