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Ferrari raises $893M, valued at $12B

Ferrari's stock is moving as quickly on the New York Stock Exchange as the brand's iconic sports cars do on the road. The company's incredibly popular initial public offering has already raised $893.1 million by virtue of 17.18 million shares sold for $52 apiece. If the deal's underwriters buy in as well, the figure would grow to $982.4 million. Plus, even after shouldering some of FCA's debt, the automaker carries an enterprise value of $12 billion, Bloomberg reports. Just as the company starts trading on the New York Stock Exchange, the share price is already racing upward, too. As of this writing, Ferrari stock, which is listed under the symbol RACE, is priced at $57.59. At its high so far today, the value reached as high as $60.95. While Ferrari is looking strong, the big winner in this success looks to be FCA because the company should raise $4 billion in the spin-off, according to Bloomberg. With nine percent of the sports car maker on the NYSE and one percent for the underwriters, another 80 percent will be distributed to FCA investors in 2016. When that's through, Exor, the holding company for the Agnelli/Elkann family, should have the largest stake at about 30 percent. Piero Ferrari holds the remaining 10 percent and has no intention to sell it. Related Video: FCA Announces Pricing of Initial Public Offering of Ferrari N.V. Common Shares Fiat Chrysler Automobiles N.V. (NYSE: FCAU/MI: FCA) ("FCA") and its subsidiary Ferrari N.V. ("Ferrari") announce today the pricing of Ferrari's initial public offering of 17,175,000 common shares at an offering price of $52 per share for a total offering size of $893.1 million ($982.4 million if the underwriters exercise the option described below in full). The shares are expected to begin trading on the New York Stock Exchange on Wednesday, October 21, 2015, under the symbol "RACE", and closing of the offering is expected to occur on October 26, 2015. In addition, the underwriters have a 30-day option to purchase an aggregate of up to 1,717,150 common shares of Ferrari from FCA. The offering is intended to be part of a series of transactions to separate Ferrari from FCA. Following completion of this offering, FCA expects to distribute its remaining ownership interest in Ferrari to FCA shareholders at the beginning of 2016. UBS Investment Bank is acting as Global Coordinator for the offering.

Petrolicious gets super Seventies in a Ferrari Dino 208 GT4

The Ferrari Dino 308 GT4 was the automaker's first sports car with a V8 mounted amidships, and that formula quickly became the Italian automaker's bread and butter. The 308 in the name denotes a 3.0-liter V8, but for the Italian market, where a tax was imposed on cars with engines larger than two liters, Ferrari decided to de-bore the V8 to avoid the tax. Thus the 2.0-liter Dino 208 GT4 was born, and New York resident Bradley Price likes his 1976 model just the way it is.
Price initially was attracted to the Bertone-styled wedge because it "fit into the whole aesthetic of the space age and of the boundless possibility of [the late 1960s and 1970s]," he says in the Petrolicious video, adding that the opening scene of the original The Italian Job struck a chord with him, and the feeling never left. With 170 horsepower on tap, the 208 isn't very quick, but, in his opinion, it has a sweeter song than the bigger V8 and the driver-centric interior is one of his favorites.
Watch Price snake the original wedge through some East Coast back roads in the video below, and, just for kicks, we've also included the opening sequence of The Italian Job.

Forza Horizon G-Shock Car Pack brings Nissan IDx, Subaru Brat [w/video]

With winter's icy grip around much of the nation, now may be the perfect time to sit inside at night and enjoy some video games. The latest six-car G-Shock pack for Forza Horizon 2 on the Xbox One is now here, and it gives players a very eclectic group of vehicles to race around the game's open world. This month's group of vehicles spans the decades ranging from 2015 back to 1953. The newest and only concept of the group is the 2015 Nissan IDX Nismo. Since the production chances for this retro coupe look increasingly slim, this game might be your only chance to get behind the concept's wheel. However, if you prefer driving something a bit more classic and Italian, the 1953 Ferrari 500 Mondial is available. To add one more flavor of performance, there is the 2010 Mazda Mazdasped 3 hot hatch, which is also this month's free car for download. In addition to three takes on the sports car, Turn 10 is also offering a trio of off-roaders. The quirkiest among them is the 1980 Subaru Brat GL, which features two jump seats in the back to avoid the dreaded chicken tax. If you prefer something more boxy and American, then the 1975 Ford Bronco is sure to please. Finally, for some real power to get through the mud, there's the 2013 Ford F-150 SVT Raptor as tuned by Shelby with a supercharged 6.2-liter V8 making 575 horsepower. As usual, the whole pack costs players $5 to download, or it's free as part of the season pass. Scroll down for a brief video showing all of these virtual rides off and read the press release about them from Turn 10 Studios. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "Forza Horizon 2" G-Shock Car Pack Now Available Welcome to the New Year! Are you ready to hit the roads of "Forza Horizon 2" for Xbox One in some new rides? You better be because the G-Shock Car Pack is lighting up the new year with some amazing vehicles. Leading off the pack is a "Forza" First: the 2015 Nissan IDx NISMO is making its videogame debut in "Forza Horizon 2." The IDx prototype harkens back to Nissan's storied automotive history, with its compact size and aggressive appearance, and looks to the future with some serious under-the-hood performance. Take a spin in this gem, and you will be startled by its performance and charmed by its presence. The remaining cars of the pack also have "Horizon Festival" written all over them.