Via prepares to go public with confidential SEC filing

On-demand transit specialist Via Transportation announces has taken the first formal step toward going public. On July 16, the company announced in a press note that it has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), initiating the regulatory process for a proposed initial public offering (IPO) of its common stock.

Bloomberg points out that the company “is reviving plans for an initial public offering after originally filing for one in 2021”, and later withdrawing. Still quoting from Bloomberg, Via “it’s working with Goldman Sachs Group Inc., Morgan Stanley and Allen & Co. on the listing, according to a person familiar with the matter, who asked not to be identified because the information is not public. Via was valued at $3.5 billion after a 2023 funding round led by venture capital firm 83North. Other investors include Exor NV, Pitango and Janus Henderson”.

Via to go public

According to the statement, the number of shares to be offered and the price range for the proposed IPO “have not yet been determined.” This is typical at this early stage, as both the structure and timing of the offering will depend on various factors, including the SEC’s review process and prevailing market conditions.

The submission was made confidentially, a provision under the JOBS Act that allows companies—especially those qualifying as emerging growth companies—to begin the IPO filing process privately. This means the contents of the draft registration (Form S-1), including detailed financials and strategic disclosures, are not yet publicly accessible.

Via clarified that the registration statement is expected to become effective only after SEC review, and even then, “subject to market and other conditions“.