Chomping at the Bit to Go Public
Last summer, we turned the blogmosaic spotlight on the larger-than-life world of horse racing, observing that a startup called Regius Thoroughbreds, Inc. had filed the initial paperwork to go public. Its successful IPO would have been the first by a company in that industry in 15 years.
Later that summer, as we also noted, another horse racing outfit called International Thoroughbreds, Inc. was put out to pasture, its registration having been revoked by the SEC. In retrospect, we might have seen that as a portent of things to come: not a few weeks later, Regius Thoroughbreds withdrew its own registration. Its IPO never got out of the starting gate.
All of which highlights the strangeness of the slough of IPO registrations filed with the SEC over the past few days. Last Friday, it was Red Bullet Racing Corp. Wednesday, it was Ghostzapper Racing Corp, Awesome Again Racing Corp., Perfect Sting Racing Corp., Ginger Punch Racing Corp., and Macho Uno Racing Corp. All six are by companies seeking to breed and train thoroughbred racehorses.
As it turns out, the same ownership group is behind all of the filings. That helps to explain the odd convergence – though there is much more to this horse tale that needs to be told. Check out the filings here, on our list of IPO registrations for 2011.