Epic, VC Totals, Shine, & More: This Week’s Wisconsin Watchlist
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—Milwaukee-based REV Group, which manufactures fire trucks, ambulances, and other specialty vehicles, plans to raise up to $262 million as part of an initial public offering, MarketWatch reported. The lead underwriters on the IPO are reportedly Goldman Sachs, Morgan Stanley, and Robert W. Baird & Co. REV Group will be listed on the New York Stock Exchange under the ticker symbol “REVG.”
—Janesville-based Shine Medical Technologies, which is working to resume domestic production of the vital medical isotope molybdenum-99, raised another $15.6 million from investors, according to a document filed with federal securities regulators. The document is an amendment of another filing from a year ago in which Shine said it had raised $11.5 million in debt financing.
—Two Milwaukee-based funds announced plans to start investing in startups from separate $50 million pools of capital. One of the new funds will operate as part of the life insurance giant Northwestern Mutual, and make investments in the range of $500,000 to $3 million in early-stage companies. The other $50 million fund was raised by Capital Midwest Fund, the Milwaukee Business Journal reported.
—U.K.-based Silence Therapeutics made a $9.6 million equity investment in Arrowhead Pharmaceuticals (NASDAQ: ARWR), which is headquartered in Pasadena, CA, but conducts research and development operations in Madison. Silence, which is developing therapies designed to work in a similar way as Arrowhead’s, said it acquired about 8.4 percent of the outstanding shares of common stock in Arrowhead.
—GrocerKey raised $700,000 in equity funding from three investors, and is on the verge of taking on an additional $1 million in debt financing. The Madison-based grocery ordering and delivery service has also recently grown its client list to a dozen grocers, said founder and CEO Jeremy Neren.
—Another Madison-based startup focused on making grocery shopping more high-tech, Fetch Rewards, raised nearly $800,000 in debt financing, according to an SEC filing. Fetch has now raised about $9.3 million since launching in 2014.