Chinese edutainment company iHuman opened for trading on Friday despite ongoing tensions between Washington and Beijing, joining a string of recent initial public offerings by Chinese companies such as Xpeng (XPEV) and Yalla (YALA). iHuman said it plans to use about 35% of proceeds from the offering to expand its products and services.

LATEST IPOS:

iHuman (IH) opened on October 9 at $12.12 after having priced 7M shares at $12.00, in the middle of the $11.00-$13.00 range. Credit Suisse and Citi acted as joint book running managers for the offering. iHuman is a Chinese e-learning company that offers products such as games, audio books and e-learning apps.

Shattuck Labs (STTK) opened on October 9 at $22.10 after its 11.88M share IPO priced at $17 per share. The deal size was increased to 11.88M shares from 10M and priced above the $14.00-$16.00 range. Citi, Cowen and Evercore ISI are acting as joint book running managers for the offering. Shattuck Labs is advancing a pipeline of treatment candidates for ovarian and other cancers.

Kronos Bio (KRON) opened on October 9 at $28.50. The company priced 13.2M shares at 19.00, above $16.00-$18.00 range. Goldman Sachs, Jefferies, Cowen and Piper Sandler are acting as joint book running managers for the offering. Kronos Bio is advancing a pipeline of treatment candidates for acute myeloid leukemia and solid tumors.

Spruce Biosciences (SPRB) opened on October 9 at $18.14 after its IPO priced at $15 per share. The deal size was increased to 6M shares from 5M shares and priced within the $14.00-$16.00 range. Cowen, SVB Leerink, Credit Suisse and RBC Capital acted as joint book running managers for the offering. Spruce Biosciences is advancing its tildacerfront product for the treatment of various forms of endocrine disorders, including adult classic congenital adrenal hyperplasia.

Aziyo Biologics (AZYO) opened on October 8 at $17.32. The company had priced 2.94M shares at $17.00. The deal priced at midpoint of $16.00-$18.00 target range. Piper Sandler and Cowen acted as joint book running managers for the offering. Aziyo Biologics is a commercial-stage regenerative medicine company.

SPAC IPOS:

Three more "Social Capital Hedosophia" SPACs from Chamath Palihapitiya came public on Friday.

• Social Capital Hedosophia Holdings Corp. IV (IPOD) priced its initial public offering of 40M units at $10.00 per unit and began trading at $10.56.
• Social Capital Hedosophia Holdings Corp. V (IPOE) priced its initial public offering of 70M units at $10.00 per unit and began trading at $10.66.
• Social Capital Hedosophia Holdings Corp. VI (IPOF) priced its initial public offering of 100M units at $10.00 per unit and began trading at $10.15.

On its "IPO 2.0" website, Social Capital Hedosophia Holdings said it is "a partnership between the investment firms of Social Capital and Hedosophia." The company added that, "We believe the future success of the capital markets for technology companies is dependent on new company formation, the sustainability of robust private market funding and an increased willingness of private technology companies to become publicly-traded and therefore become available to a broader universe of investors who can benefit from their disruption and growth. Our mission is to create an alternative path to a traditional IPO for disruptive and agile technology companies to achieve their long-term objectives and overcome key deterrents to becoming public."

Landcadia Holdings III (LCY) priced its initial public offering of 50M units at a price of $10.00 per unit and opened for trading at $9.92 on October 9. The blank check company is sponsored by Tilman Fertitta and Jefferies Financial Group (JEF). Lancadia intends to focus its search on investment opportunities in the consumer, dining, hospitality, entertainment and gaming industries, including technology companies operating in these industries.

Petra Acquisition (PAIC) opened on October 8 at $9.90, after pricing its IPO at $10 per unit. Petra Acquisition is a blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities, with an initial focus on target businesses in the healthcare or a healthcare-related industry.

Empower (EMPW) opened on October 7 at $9.85, after pricing its IPO at $10. The blank check company sponsored by an affiliate of MidOcean Partners said it "may pursue a business combination in any industry, sector or geographic region, and intends to focus its search initially on U.S. businesses in the consumer products, retail, services, experiences and related sectors.

Montes Archimedes Acquisition (MAAC) opened on October 7 at $9.85, after pricing its IPO at $10. The special purpose acquisition company "intends to identify a prospective target company and complete an initial business combination in the health care industry. Among the sub-sectors that may be targeted are health care providers, technology-enabled services, digital and consumer health, biopharmaceuticals, the pharmaceutical value chain, medical devices and diagnostics."

PERFORMANCE:

• After opening at $12.12, iHuman ended its first trading day at $16.
• Shattuck Labs ended the week at $19.35.
• Kronos Bio finished Friday at $27.07.
• After opening at $18.14, Spruce Biosciences finished the week trading at $17.
• Aziyo Biologics ended Friday at $13.54.

UPCOMING IPOS: Among the upcoming IPOs are Airbnb (AIRB), Jupiter Wellness (JUPW), Codiak BioSciences (CDAK), ATI Intermediate (ARRY), 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.

Jupiter Wellness is a wellness hemp-derived cannabidiol, or CBD, consumer product development company.

Codiak BioSciences is advancing a pipeline of exosome-based treatment candidates for cancer and other diseases.

ATI Intermediate is primarely in the business of miscellaneous manufacturing industries.

Inhibikase Therapeutics has filed with the SEC for an initial public offering on the Nasdaq under the symbol "IKT." Inhibikase is a clinical stage pharmaceutical company developing therapeutics for Parkinson's disease, and related disorders that arise inside and outside of the brain.

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