Virgin Trains USA announced Jan. 30 that it is launching an Initial Public Offering (IPO) of 28,334,000 shares of common stock. The NASDAQ Global Select Market listing is expected to raise $17 to $19 per share—between $482 million and $538 million—resulting in the company having a market capitalization of up to $3.2 billion.
With its funding plans clearer, South Florida passenger start-up Brightline is looking west for its next venture into private high speed rail.
U.S. Senators Dean Heller (R-Nev.) and Harry Reid (D-Nev.) as well as Congressman Joe Heck (R-Nev.) on March 3, 2016 introduced legislation to advance high-speed passenger rail service between Las Vegas and Southern California. S.2627/H.R.4670, also called the Mojave National Preserve Boundary Adjustment Act of 2016 removes federal red tape and promotes the most efficient and cost effective route for the proposed XpressWest rail project that will connect Las Vegas to Los Angeles with stops in Victorville and Palmdale.