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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 F12 TdF debuts at Finali Mondiali event at Mugello

It's been almost a month since Ferrari revealed the new F12 TdF. But outside of a select cadre of customers, nobody has gotten to see it until this weekend at the Mugello circuit in Italy. The TdF is the more extreme version of the F12 Berlinetta – similar to how the 599 GTO was an upgraded 599 GTB Fiorano, or the 458 Speciale an upgraded 458 Italia. It benefits from a more potent version of the Berlinetta's 6.3-liter V12 producing 769 horsepower and 520 pound-feet of torque. It also features a rear-wheel steering system, 87 percent more downforce, and 240 pounds less weight to motivate. The result is a 0-62 time of 2.9 seconds, a top speed of over 211 miles per hour, and a Fiorano lap time of 1:21. A trio of TdFs hit the track this weekend at Mugello – one of several circuits owned by Ferrari in Italy – located in the Tuscan countryside and frequent venue for motorcycle and DTM races. It also played host this weekend to the Finali Mondiali – the company's year-end racing spectacle where the winners of the various Ferrari Challenge series duke it out for top honors, where private owners (as part of the Corse Clienti program) are invited to drive their racing and XX track machinery, and where Ferrari often unveils something new. In addition to the F12 TdF's debut, this year saw the presentation of the 488 GTE and GT3 racers as well. Both Sebastian Vettel and Kimi Raikkonen were on hand to show off what the TdF could do in front of the cheering crowds. With only 799 examples to be built (and all of them rumored to have already been sold), this may present the closest opportunity you'll get to see the new F12 TdF up close.

Petrolicious highlights Andy Greene's love of Ferrari in "The Caretaker"

The next stop on the Petrolicious tour of the nation's car stories is Savannah, Georgia. The crew sat down with restorer Andy Greene of Andy Greene's Sports and Vintage Race Cars, and he waxed poetic about his love of Ferraris. See, the shop will work on vintage models and classic road racing cars from other brands, but when it comes to Ferrari, any model from any year can find a place in Greene's garage.
And we'll admit that the yellow Ferrari 250 SWB helps make Greene's case. You can see for yourself what he's talking about in the video below.