Good morning! Chobani is considering going public via an IPO later this year. Meanwhile, Johnson & Johnson has applied for an emergency authorization from the FDA for its vaccine. And, the rechargeable lithium-ion battery is set to change the way the world uses power.
FINANCE
Chobani Eyeing an IPO
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Best known for its Greek yogurts, Chobani is considering going public via an initial public offering later this year.
Here’s the gist of it:
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According to The Wall Street Journal, the company is seeking a valuation of $7 billion to $10 billion.
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While Chobani’s yogurt is its claim to fame, the company has been dabbling with more food products as the sales growth of its signature product has slowed. This includes oat milk, creamer, and ready-to-drink coffee.
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But, the 16-year-old company is likely to face some fierce competition. Oatly, a Swedish company that pretty much popularized oat milk, is also looking to go public later in 2021.
CORONAVIRUS
J&J: It’s Done and Waiting for Authorization
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Here’s what you need to know:
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If the application is approved, it would be the third coronavirus vaccine authorized for emergency use in the U.S. The other two vaccines were developed by Pfizer and Moderna.
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Unlike Pfizer’s and Moderna’s two-shot vaccines, J&J’s only requires one dose.
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At the end of last month, J&J has stated that its vaccine was 66% effective against COVID-19. However, this figure dipped to 57% if used against the highly contagious B.1.351 variant, which is rapidly spreading in South Africa.
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The FDA has scheduled a meeting of its Vaccines and Related Biological Products Advisory Committee on Feb. 26 to discuss the matter.
TECH
Ready to Power the World
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Rechargeable lithium-ion batteries are making a comeback and are set to change the way the world uses power.
Here’s the lowdown:
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After years of rapidly falling costs, the battery boom is OTW.
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In the energy industry, affordable batteries make it possible for companies to store electricity and harvest renewable power.
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Meanwhile, batteries are also set to revolutionize the auto industry. The aim is to unseat the gas-powered engine. And with battery costs coming down fast and hard, this may soon be a reality.
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In fact, carmakers expect that EVs will cost the same amount to build within the next five years.
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And, just recently, batteries also found an ally in General Motors, which pledged to phase out gasoline and diesel-powered vehicles by 2035.
APPENDIX
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Double fortune? Japanese conglomerate, SoftBank, filed back-to-back SPAC registration statements for two new blank-check companies.
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Not so lucky. Luckin Coffee, China’s rival to Starbucks, has filed for bankruptcy in the U.S. less than a year after its misconduct debacle.
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It’s a go for the ballots. Amazon was denied its attempt to delay union vote at Alabama warehouse.
- Even more incentive to vaccinate. Kroger has said that it would pay $100 to workers who get a coronavirus vaccine.
