A planned IPO has been called off.
"Virgin Trains USA, formerly known as Brightline, has decided to shelve plans for a previously announced initial public offering," reports Rob Wile.
The company identified "alternative financing sources" while exploring a public offering, according to a statement released by the company and cited in the article.
"Earlier Tuesday, Bloomberg had reported that the planned IPO, which sought to raise more than half a billion dollars at a more than $3-billion valuation, was going to be the largest of 2019." According to Wile.
Virgin Trains USA has been making a steady stream of news in recent months, starting with Virgin partnering with Brightline in November and then announcing eight expansion corridors in December.
FULL STORY: Virgin/Brightline railway shelves IPO plans
Brightline and Virgin Trains Splitting After 17-Month Partnership
Among the collateral damage of a quick divorce between Brightline and Virgin Trains USA is the name for the planned high-speed connection from Las Vegas to Southern California.
Brightline Founder Predicts a Passenger Rail Resurgence
The HSR operator wants to expand to more US regions.
A Passenger Rail Revolution?
An injection of federal funding could help make train travel a key component of the U.S. transportation network.
What ‘The Brutalist’ Teaches Us About Modern Cities
How architecture and urban landscapes reflect the trauma and dysfunction of the post-war experience.
‘Complete Streets’ Webpage Deleted in Federal Purge
Basic resources and information on building bike lanes and sidewalks, formerly housed on the government’s Complete Streets website, are now gone.
The VW Bus is Back — Now as an Electric Minivan
Volkswagen’s ID. Buzz reimagines its iconic Bus as a fully electric minivan, blending retro design with modern technology, a 231-mile range, and practical versatility to offer a stylish yet functional EV for the future.
Healing Through Parks: Altadena’s Path to Recovery After the Eaton Fire
In the wake of the Eaton Fire, Altadena is uniting to restore Loma Alta Park, creating a renewed space for recreation, community gathering, and resilience.
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
Electric Vehicles for All? Study Finds Disparities in Access and Incentives
A new UCLA study finds that while California has made progress in electric vehicle adoption, disadvantaged communities remain underserved in EV incentives, ownership, and charging access, requiring targeted policy changes to advance equity.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
City of Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research