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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.

Kimi Raikkonen returns to Ferrari

The so-called "silly season" in Formula One conjured up all kinds of rumors, and most of them revolved around Kimi Raikkonen. Would the 2007 World Champion stay at Lotus? Would he switch to Red Bull to replace Mark Webber? Would he return to Ferrari?
Well now we have the answer. Ferrari has confirmed that the Finn is heading back to Maranello, where he will partner with Fernando Alonso starting next season in a two-year deal. That means Felipe Massa, who has been at Ferrari since 2006 but has struggled to keep up the pace since his catastrophic crash in 2009, will need to find a new seat.
The announcement opens up a series of questions as a game of musical chairs commences. Where will Massa go? Who will fill Raikkonen's seat at Lotus? And will Alonso tolerate the team bringing in another former champion and serious contender to challenge his position as number one at the top team? We'll just have to wait and see, but the move in and of itself demonstrates a certain businesslike lack of personal emotion on Kimi's part, having been unceremoniously dumped by Ferrari three years ago to make way for Alonso. Head on down below for the rather Raikkonenly brief announcement.

Watch Rimac's Concept One roast a LaFerrari and Tesla Model S in a drag race

It's been five long years since Rimac Automobili took the covers off of its Concept_One at the Frankfurt Motor Show. From the very beginning, Rimac has confidently touted the supercar's capabilities, but now we actually have proof of just how capable the Concept_One really is. Here's your takeaway: It's quick enough to show a Ferrari LaFerrari its taillights through the quarter-mile. If you've spent any time clicking around on YouTube, you've seen the Tesla Model S P90D trump all sorts of high-performance cars. In this video, the Tesla is really only there for reference, because the way the Concept_One bests the electric sedan is just brutal. For those not familiar with Croatia's electric machine, here's the lowdown: 1,088 horsepower and 2,800 pound-feet of torque thanks to four electric motors that put everything down off the line Zero to 62 mph in 2.6 seconds, 6.2 seconds to get to 124 mph from a standstill, and 0 to 186 mph in 14.2 seconds An independent gearbox for each electric motor with the front featuring single-speed gearboxes and the rear axle using two-speed double-clutch gearboxes Rimac All Wheel Torque Vectoring (R-AWTV) system that calculates the optimum amount of torque for each wheel On paper, the Concept_One makes a Tesla Model S P90D with Ludicrous Mode look slow. But a LaFerrari isn't a Model S. And it's definitely not an electric car. It's a stampeding thoroughbred with a naturally aspirated V12 and an electric motor that together make 950 horsepower. It can blitz the quarter-mile in roughly 9.8 seconds and is faster than the majority of cars on the road today. Granted, the LaFerrari is quicker to 60 mph than the Concept_One, at 2.5 seconds. In essence, this race between two titanic machines should be close. But it's not. It's not even close to being close. It's a massacre. Related Video: News Source: Archie Hamilton Racing via YouTubeImage Credit: Archie Hamilton Racing / YouTube Green Ferrari Tesla Coupe Electric Videos drag race ferrari laferrari Rimac