Palantir shares opened at $10 on Wednesday in the stock's debut on the New York Stock Exchange, but closed their first trading session at $9.50. Meanwhile, cloud software developer Asana also made its debut on Wednesday, also going public via a direct listing.

LATEST IPOS:

Palantir (PLTR) opened on September 30 at $10.00 in a direct listing on the NYSE, above the $7.25 reference price set by the exchange. Palantir develops software for government agencies and large companies.

Asana (ASAN) opened on September 30 at $27.00 after its own reference price was set at $21.00 per share by the NYSE. Asana specializes in work collaboration software.

Academy Sports & Outdoors (ASO) opened on October 2 at $14.25 after having priced 15.6M shares at $13.00, below the $15.00-$17.00 target range. Academy Sports & Outdoors is a sporting goods and outdoor recreation retailer.

Immunome (IMNM) opened on October 2 at $15.66. Immunome priced 3.25M shares at $12.00. The deal size was increased to 3.25M shares from 2.5M and priced at the midpoint of $11.00-$13.00 target range. Immunome is developing first-in-class antibody therapeutics based on its proprietary human memory B cell platform. Its lead discovery program, IMM-ONC-01, is focused on interleukin-38, a small protein which appears to function as a novel immune checkpoint inhibitor.

C4 Therapeutics (CCCC) opened on October 2 at $26.60. C4 priced 9.6M shares at $19.00 after the deal size was increased in size from 8.8M shares of common stock and priced above the $16.00-$18.00 range. C4 Therapeutics is developing protein degrading drugs for cancers and neurodegenerative diseases.

Oncorus (ONCR) opened on October 2 at $15.50. Oncorus priced 5.8M shares at $15.00, the midpoint of the target $14.00-$16.00 range. Oncorus is advancing viral-delivered cancer immunotherapies for various solid tumor cancers.

Orphazyme (ORPH) opened on September 29 at $10.80. The company had priced 7.616M shares at $11.00. Orphazyme is a late-stage biopharmaceutical company pioneering the Heat-Shock Protein response for the treatment of neurodegenerative orphan diseases.

Mission Produce (AVO) opened on October 1 at $12.25. The deal size was reduced to 8M shares from 9.38M and priced below the $15.00-$17.00 target range. Mission Produce sources, produces and distributes fresh avocados to retail, wholesale and foodservice customers in over 25 countries.

Pulmonx (LUNG) opened on October 1 at $40.00. The company had priced 10M shares at $19.00, above the revised $17.00-$18.00 range. Pulmonx is a commercial-stage medical technology company that offers
minimally invasive treatments for people suffering from severe emphysema.

Lixiang Education (LXEH) opened on October 1 at $10. The company had priced shares at $9.25. Lixiang Education provides private primary and secondary education services in China.

Chindata (CD) opened on September 30 at $14.50. The company had priced 40M shares at $13.50, the top of  the $11.50-$13.50 deal range. Chindata is a carrier-neutral hyperscale data center solution provider.

Yalla (YALA) opened on September 30 at $9.75. The company had priced 18.6M shares at $7.50. The deal range was $7.00-$9.00. Yalla operates a voice-centric social network focused on the MENA region.

Boqii (BQ) opened on September 30 at $10. The company had priced 7M shares at $10.00, the low end of the $10.00-$12.00 deal range. Boqii is a Goldman Sachs (GS)-backed pet retailer and online community company.

SPAC IPOS:

Atlantic Avenue Acquisition (ASAQ) priced 25M units at $10.00 per unit and opened for trade at $9.86 on October 2. The company is a newly incorporated blank check company, sponsored by an entity affiliated with MC Credit Partners, whose business purpose is to effect a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization or other similar business combination with one or more businesses.

ION Acquisition Corp 1 (IACA), a blank check company incorporated for the purpose of effecting a merger or similar business combination, opened at $10.85 on October 2 after pricing its IPO at $10 per unit. The company intends to focus on "the rapidly growing universe of Israeli companies and entrepreneurs that apply technology and innovation to our everyday lives." The company is sponsored by ION Holdings 1, LP, an affiliate of ION Asset Management Ltd.

Sports Entertainment Acquisition (SEAH) opened at $9.97 after its upsized initial public offering of 40M units priced at $10.00 per unit. "Although the company's efforts to identify a prospective business combination opportunity will not be limited to a particular industry, it intends to focus on the sports and entertainment sectors as well as the technology and services that are associated with these verticals," it noted.

Apollo Strategic Growth Capital (APSG) priced its initial public offering of 75M units at $10.00 per unit and opened for trade at $10on October 2. The company is sponsored by an affiliate of Apollo Global Management (APO) and was formed for the purpose of effecting a merger or similar business combination with one or more businesses.

VG Acquisition (VGAC) priced its initial public offering of 48M units at $10.00 per unit and opened for trade at $10 on October 2. VG intends to focus on "businesses that operate in one of the Virgin Group's core sectors: travel & leisure, financial services, health & wellness, technology & internet-enabled, music & entertainment, media & mobile and renewable energy/resource efficiency." Its management team includes Sir Richard Branson, founder of the company; Josh Bayliss, the company's CEO and director, who is also the CEO of the Virgin Group; and Evan Lovell, the company's CFO and director, who is a Chief Investment Officer of the Virgin Group.

Avanti Acquisition (AVAN) opened for trade at $10 on October 2. Avanti Acquisition, a blank check company sponsored by an affiliate of NNS Group, the private family office of Nassef Sawiris and Sienna Capital, a subsidiary of Groupe Bruxelles Lambert, priced its upsized initial public offering of 60M units at a price of $10.00 per unit. The company "intends to be sector agnostic and to focus on European family owned or founder led businesses with a US nexus."

IG Acquisition (IGAC) opened on October 1 at $10.01. The company priced its initial public offering at $10.00 per unit. The company may pursue an acquisition in any business industry or sector, but it intends to concentrate its efforts on identifying businesses in the leisure, gaming and hospitality industries.

Qell Acquisition (QELL) opened on September 30 at $10.11. The company had priced its initial public offering of 33M units at $10.00 per unit. The company intends to focus its search for a target in the next-generation mobility, transportation and sustainable industrial technology sectors, but said it may pursue a target in any stage of its corporate evolution or in any industry, sector or geographic location.

VY Global Growth (VYGG), a blank check company that intends to partner with a technology business, opened for trading at $10.30 on October 2 after pricing at $10 per unit.

AEA-Bridges Impact (IMPX) opened on October 1 at $10 per unit after pricing its IPO at $10 per unit. AEA-Bridges Impact Corp. is a newly incorporated exempt company formed for the purpose of effecting a merger or similar business combination with a target business.

PERFORMANCE:

• After opening at $10, Palantir ended its first trading day at $9.50.
• Asana ended the week at $25.91.
• Academy Sports & Outdoors finished Friday at $12.99.
• After opening at $15.66, Immunome finished the week trading at $13.45.
• Oncorus ended its frist trading day at $16.
• Orphazyme finished the week at $10.81.
• After opening at $12.25, Mission Produce finished the week at $12.45.
• Pulmonx finished Friday at $41.90 per share.
• After opening at $10, Lixiang Education ended its first trading day at $5.60.
• Chindata finished Friday at $14.
• Yalla finished its first day of trade at $6.70.
• Boqii ended the week at $6.21, after opening at $10.

UPCOMING IPOS: Among the upcoming IPOs are Airbnb (AIRB), iHuman (IH) and Inhibikase Therapeutics (IKT).

Airbnb has announced that it confidentially submitted a draft registration Statement on Form S-1 to the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.

iHuman has filed a preliminary prospectus for an initial public offering of the company's American depositary shares, or ADSs, and submitted an application for the listing of the ADSs on the New York Stock Exchange under the symbol "IH." In the filing the company stated that, "According to the Frost & Sullivan Report, we are a leading childhood edutainment company in China, with core expertise in providing integrated and innovative products and services catering to the education demands for children mainly aged between three and eight."

Inhibikase Therapeutics has filed with the SEC for an initial public offering on the Nasdaq under the symbol "IKT." ThinkEquity is listed as the underwriter. Inhibikase is a clinical stage pharmaceutical company developing therapeutics for Parkinson's disease, and related disorders that arise inside and outside of the brain. The company filed two Investigational New Drug applications with the FDA for lead asset candidate IkT-148009: one for the treatment of Parkinson's disease and the second for treatment of gastrointestinal complications that arise as early symptoms of Parkinson's.

"Opening Day" is The Fly's recurring series of stories on the latest initial public offerings, their performance, analyst commentary and upcoming IPOs.