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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.

Queens man knows how to party, disrupts Mets game with van

A New Yorker and all-around true American hero took his weekend festivities a little too far and landed himself in front of a judge last week. According to NBC New York, Nelson Hidalgo drove his unassuming Sprinter to Citi Field on Saturday, June 18, around 10:45 p.m. While the Mets were getting thrashed by the Braves, Hidalgo pulled up to the intersection of 127th street and 35th avenue. Hiding within the van's cargo area were 80 speakers driven by powerful amps, around $20,000 worth of car audio. Hidalgo opened the Sprinter's rear doors, deployed his amazing speaker system, cracked a cold Coors Light, and unleashed hell. Noise complaints immediately started flooding in to the police, including one from the Mets' bullpen. Soon, Hidalgo amassed a sizable crowd who had come to rock out and marvel at the lunacy of the Sprinter's sound system. The NYPD showed up eventually and, undaunted by noise and the crowd, clapped the irons on poor Nelson. The Sprinter was impounded and Hildago was charged with second-degree criminal nuisance, general noise prohibition, disorderly conduct, and obstructing the driver's view. "I know it's illegal, but it's the weekend," he explained to the cops as they hauled him away. Once they had him in custody, the NYPD realized that Hidalgo was the person they had been looking for in connection with absurdly loud music coming from various city junkyards in the dead of night. Hidalgo, who has no prior record, spent the night in the slammer but was released the next morning with no bail on the promise that he return for his court date on August 1. Related Video:

Google's new Android Autos OS unveiled, will be in cars this year [w/video]

Connected cars are coming en-masse. We know this much. How, though, remains something of an open question, especially as two of the world's largest tech companies are preparing to battle for control of your car's dashboard. On the one hand, we have Apple and its CarPlay system. And now, we know what Google has been working on with Auto Link.
Its new name is Android Auto, and yes, it's based off the Android architecture that is the primary challenger to Apple's iOS mobile operating system. Announced at Google's I/O conference today, Android Auto functions similarly to CarPlay - owners will need to plug their smartphones into their cars to access the full breadth of capability.
In Android Auto's case, that means a wealth of voice controls to limit distracted driving. Google's marquee apps will be available when the interface arrives in production models later this year, including Google Play Music, Google Maps and voice-activated texting and text playback. Meanwhile, developers will be able to begin designing custom apps for the new system via an upcoming software development kit.