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Ferrari officially files SEC paperwork to register future IPO

Late last year FCA announced plans to spin off Ferrari into a separate company, and after a long wait that process has finally become official. The Prancing Horse has now filed the necessary prospectus and other documents with the Securities and Exchange Commission to hold an initial public offering on The New York Stock Exchange. The paperwork doesn't mention a specific date for the Italian sportscar maker's IPO, but it's expected sometime in October. At this point, the documents also don't include some other vital data about the IPO. Ferrari lists neither the number of shares being offered nor their price. The company also doesn't have a stock symbol yet. UBS, BofA Merrill Lynch and Santander are acting as joint book runners for the deal. As part of the IPO, FCA initially intends to sell 10 percent of Ferrari's shares on the stock market. Another 10 percent of the company still belongs to Piero Ferrari. FCA is holding onto the remaining 80 percent in the short term for financial reasons but intends to distribute them to shareholders in early 2016. After the spin-off, about 24 percent of Ferrari would be owned by Exor, 10 percent by Piero Ferrari, and 66 percent by public shareholders, according to the SEC documents. FCA boss Sergio Marchionne believes that Ferrari could be worth over $11 billion. Although, his estimate might be slightly high. According to Reuters, Wall Street is actually putting the value somewhere between $5.5 billion and $11 billion. If you're thinking about investing in the company or just want to read the nitty-gritty about the brand's financial health, the entire SEC filing can be read here. Ferrari Files for Initial Public Offering LONDON, July 23, 2015 /PRNewswire/ -- Fiat Chrysler Automobiles N.V. ("FCA") announced today that its subsidiary, New Business Netherlands N.V. (to be renamed Ferrari N.V.), has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission ("SEC") for a proposed initial public offering of common shares currently held by FCA. The number of common shares to be offered and the price range for the proposed offering have not yet been determined, although the proposed offering is not expected to exceed 10% of the outstanding common shares. In connection with the initial public offering, Ferrari intends to apply to list its common shares on the New York Stock Exchange.

Ferrari FF coupe plans found in European patent application

The FF is quite a departure for Ferrari - it's the company's first hatchback and all-wheel-drive vehicle - so it isn't surprising that it rubs some people the wrong way, even if the car itself is very good. Well, judging from these patent drawings of what looks like a FF coupe filed with the Office for Harmonization in the Internal Market (OHIM), Ferrari has plans to build one.
We're not sure if Ferrari is planning a production run, however, and it's very possible this is a one-off special being built for a very rich customer, a la Eric Clapton and his 458 Italia. Patent drawings of Clapton's special 458 were filed with OHIM before it was finished, as well.
We think the regular FF is a good-looking car as is, but would welcome a coupe version if it looked like the one in these drawings. It could be a great alternative to the F12 Berlinetta for people who want all-wheel drive and a lower profile.

Conquest and controversy conclude the 2014 Rolex 24 at Daytona [spoilers]

If you don't wish to know who won the 2014 Rolex 24 at Daytona, you should avert your eyes right now. We'll even give you a double-space to skedaddle...
For those of you still with us, the first race in the United SportsCar Championship (USCC) is done, but the discussions about it certainly won't end for a while. Daytona Prototypes claimed the first four overall places, the top spot taken by the No. 5 Action Express Coyote-Chevrolet Corvette DP driven by Joao Barbosa, Christian Fittipaldi, Sebastien Bourdain and Burt Friselle. The 16th and final caution of the race bunched the field up for an eight-minute sprint to the flag, so the first place getter finished just 1.4 seconds ahead of the No. 10 Wayne Taylor Racing Dallara-Chevrolet Corvette DP driven by Max Angelelli. Third place went to Brian Friselle in the No. 9 Action Express Chevrolet Corvette DP, 20 seconds down. Chevrolet power hasn't taken the overall win since 2003, eleven years later it scores a one-two-three-four. The No. 6 Muscle Milk/Pickett Racing ORECA-Nissan 03 scored fifth place, the top LMP2 finisher.
The Prototype Challenge class win went to the No. 54 CORE Autosport team of Colin Braun, Jon Bennett, Mark Wilkins and James Gue.