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Ferrari raises $893M, valued at $12B

Ferrari's stock is moving as quickly on the New York Stock Exchange as the brand's iconic sports cars do on the road. The company's incredibly popular initial public offering has already raised $893.1 million by virtue of 17.18 million shares sold for $52 apiece. If the deal's underwriters buy in as well, the figure would grow to $982.4 million. Plus, even after shouldering some of FCA's debt, the automaker carries an enterprise value of $12 billion, Bloomberg reports. Just as the company starts trading on the New York Stock Exchange, the share price is already racing upward, too. As of this writing, Ferrari stock, which is listed under the symbol RACE, is priced at $57.59. At its high so far today, the value reached as high as $60.95. While Ferrari is looking strong, the big winner in this success looks to be FCA because the company should raise $4 billion in the spin-off, according to Bloomberg. With nine percent of the sports car maker on the NYSE and one percent for the underwriters, another 80 percent will be distributed to FCA investors in 2016. When that's through, Exor, the holding company for the Agnelli/Elkann family, should have the largest stake at about 30 percent. Piero Ferrari holds the remaining 10 percent and has no intention to sell it. Related Video: FCA Announces Pricing of Initial Public Offering of Ferrari N.V. Common Shares Fiat Chrysler Automobiles N.V. (NYSE: FCAU/MI: FCA) ("FCA") and its subsidiary Ferrari N.V. ("Ferrari") announce today the pricing of Ferrari's initial public offering of 17,175,000 common shares at an offering price of $52 per share for a total offering size of $893.1 million ($982.4 million if the underwriters exercise the option described below in full). The shares are expected to begin trading on the New York Stock Exchange on Wednesday, October 21, 2015, under the symbol "RACE", and closing of the offering is expected to occur on October 26, 2015. In addition, the underwriters have a 30-day option to purchase an aggregate of up to 1,717,150 common shares of Ferrari from FCA. The offering is intended to be part of a series of transactions to separate Ferrari from FCA. Following completion of this offering, FCA expects to distribute its remaining ownership interest in Ferrari to FCA shareholders at the beginning of 2016. UBS Investment Bank is acting as Global Coordinator for the offering.

Chrysler's mysterious limo spotted in trailer for new Wolverine movie

Way back in the warm, sunny days of June, we reported on a rather strange looking Chrysler-badged limousine spotted during filming for the latest installment in the Wolverine saga. Now, with the first trailer for Logan (or Wolverine 3, if you prefer its informal name) hitting the internet, we're getting another look at the odd limo, along with a few other offerings from Fiat Chrysler Automobiles. There's a flock of "Federal Police" Rams and a spinning, bluish-green Rebel – we're guessing Wolverine and Professor Xavier stole it from some kind of work crew – judging by the gold-ish decals on the door and the work box in the bed. Our look at the Chrysler limo isn't great, although it does appear in two scenes of the trailer. We're thinking these shots are connected, and here's why. Our first sighting comes in a cemetery, where the hulking limo sits in the background while Wolverine takes a pull from a pint of liquor. This scene ties in neatly with the images from June – we've embedded the tweet that posted the original shots at the bottom – which shows Wolverine wearing the same clothing. Comparing the shape of the limo's mirrors in June with a later scene in the trailer, we can safely say that Wolverine eventually ends up driving the limo, with a worried Professor Xavier in the backseat. While FCA hasn't been shy about wanting to hook up with Hollywood blockbusters, Logan is quite a lot different than Star Wars, Episode VII: The Force Awakens, or even Batman vs. Superman: Dawn of Justice. The tone of this entire trailer, from Johnny Cash's baleful cover of Nine Inch Nails' Hurt to the dire medical condition of Patrick Stewart's Professor Xavier, is depressing and emotional. That's a far cry from the super-successful superhero blockbusters that roll out of Marvel Studios every year. You can spot the exterior of the limo at 0:17, the interior at 1:03 (the scene is cut to make it look like Logan and Professor X are driving the Ram Rebel that appears at 1:02), and the police Rams at 0:48. Aside from the new FCAs, there's also a lovely first-gen Ford Bronco. Logan hits theaters on March 3, 2017. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Related Video:

MotorWeek retro review revisits the Chrysler PT Cruiser

I have a long history with the Chrysler PT Cruiser. My mom was working at Automobile magazine when it launched, and she brought home their long-term tester all the time. My buddy Adam's mom bought one in the early 2000s, and I drove it on many an occasion. When I left Winding Road in early 2010 and joined Autoblog, the car I got on Day 1 was... well, I think you can guess. I will never forget driving that 2010 PT Cruiser to a rest stop outside of Toledo, Ohio, to meet then editor-in-chief John Neff and buy his old camera. I will also never forget the look on Neff's face when he pulled into the parking lot in his 1991 Ford Taurus SHO, saw the PT, and started laughing. I have always hated this car. But when it launched around the turn of the millennium, it was a huge deal – not just for Chrysler, but for the industry. Retro styling was all the rage, and the PT had it in spades. On top of that, it was seriously functional – one of the first widely accepted tall hatchbacks in an era where Americans wanted sedans. MotorWeek has now dug up its original PT Cruiser review for its latest retro review offering. Watch the video above to see what the ever-charismatic John Davis and his crew thought of the PT way back when it was actually relevant.