Warby Parker made its public debut Wednesday via a direct listing and soared more than 30% above its $40 reference price. Shares of the eyewear startup ended their first trading day at $54.49, giving the company a valuation of over $6B.  

LATEST IPOS AND DIRECT LISTINGS:

First Watch Restaurant Group (FWRG) opened on October 1 at $21. The company had priced 9.459M shares at $18.00. The deal range was $17.00-$20.00. BofA, Goldman Sachs and Jefferies acted as joint book running managers for the offering. First Watch is a daytime restaurant concept serving made-to-order breakfast, brunch and lunch using fresh ingredients.

TDCX (TDCX) opened on October 1 at $20.95. The deal size was increased to 19.36M shares from 18.77M and priced at the top end of the $16.00-$18.00 range. Goldman Sachs and Credit Suisse acted as joint book running managers for the offering. TDCX identifies itself as "a high-growth digital customer experience solutions provider for technology and blue-chip companies" that offers omnichannel CX solutions, sales and digital marketing services and content monitoring and moderation services.

Exscientia (EXAI), which calls itself "an AI-driven pharmatech company committed to discovering, designing and developing the best possible drugs in the fastest and most effective manner," opened on October 1 at $27.14. The deal size was increased to 13.85M shares from 13.1M and priced at the top end of the $20.00-$22.00 range. Goldman Sachs, Morgan Stanley, BofA and Barclays acted as joint book running managers for the offering. Its pipeline includes more than 25 projects advancing, including what it identifies as "the first three AI-designed drug candidates to enter Phase 1 clinical trials."

Olaplex Holdings (OLPX) opened on September 30 at $25. The company had priced 73.7M shares at $21.00. The deal size was increased to 73.7M shares from 67.0M and priced above the $17.00-$19.00 range. Goldman Sachs, JPMorgan, Morgan Stanley and Barclays acted as joint book running managers for the offering. Olaplex is beauty company who says its mission is "to improve the hair health of its consumers." The brand's products "have an active, patent-protected ingredient that works on a molecular level to protect and repair hair from damage," said Olaplex, whose products are sold through an omni-channel platform serving the professional, specialty retail, and direct-to-consumer channels.

Warby Parker's (WRBY) direct listing opened on September 29 at $54.05. The New York Stock Exchange set a reference price of $40.00 for Warby Parker's direct listing. Warby Parker is a direct-to-consumer eyewear brand. For its Q3, the company currently expects net revenue of $131M to $133M, representing growth of 26% to 28% versus last year, and growth of 38% to 40% versus Q3 of 2019. For fiscal year 2022, Warby Parker currently expects revenue growth of at least 25% when compared to fiscal year 2021.

Amplitude (AMPL) opened on September 28 at $50 following a direct listing. The company, which identifies itself as "a pioneer in digital optimization" with "more than 1,200 paying customers, including 26 of the Fortune 100," noted that as of September 27, there were 46.1M shares of Class A common stock outstanding and 56.6M shares of Class B common stock outstanding and that only shares of Class A common stock will be listed for trading on the Nasdaq Capital Market. "Each outstanding share of Class B common stock is convertible, at any time, at the option of the holder, into one share of Class A common stock," the company stated. Nasdaq set the reference price for the direct listing at $35.00 per share.


PERFORMANCE:

• First Watch Restaurant Group ended the week at $22.13.
• After opening at $20.95, TDCX finished Friday at $19.07.
• Exscientia closed Friday's trading at $27.10.
• Olaplex Holdings ended the week at $22.90.
• Warby Parker finished Friday at $53.68.
• After opening at $50, Amplitude ended the week at $54.51.

RECENT IPOS TO WATCH:

On Holding (ONON), Dice Therapeutics (DICE), Definitive Healthcare (DH), Dutch Bros (BROS), Thoughtworks (TWKS), Procept BioRobotics (PRCT), Pasithea Therapetucis (KTTA), EzFill (EZFL), and Sportradar (SRAD) are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies' IPOs expire.

UPCOMING IPOS:

Upcoming IPO and direct listings expected include Rivian, Qiniu (QNIU), Perspectum Group (SCAN), Authentic Brands (AUTH), Portillo's (PTLO), Fabletics, Allvue Systems (ALVU), Allbirds (BIRD), GitLab (GTLB), Keter Group (KETR), Aris Water (ARIS), Lucid Diagnostics (LUCD), and Fluence Energy (FLNC).

Fluence, the AES Corporation's (AES) joint venture with Siemens (SIEGY), announced that Fluence Energy has filed a registration statement on Form S-1 with the U.S. SEC relating to a proposed initial public offering of its Class A common stock. Fluence Energy has applied to list its common stock on the Nasdaq Global Select Market under the symbol "FLNC." The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Aris Water Solutions has filed with the SEC for an initial public offering of its Class A common stock. The company intends to apply to list its Class A common stock on the New York Stock Exchange under the symbol "ARIS." The prospectus stated that, "We are a leading, growth-oriented environmental infrastructure and solutions company that directly helps our customers reduce their water and carbon footprints. We deliver full-cycle water handling and recycling solutions that increase the sustainability of energy company operations."

PAVmed (PAVM) and its majority-owned subsidiary, Lucid Diagnostics, announced that the latter has publicly filed a registration statement on Form S-1 with the U.S. 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 offering have not yet been determined. Lucid Diagnostics intends to list its common stock on The Nasdaq Stock Market under the ticker symbol "LUCD." Lucid Diagnostics markets "the first and only commercial tools for widespread early detection of esophageal precancer and cancer," the EsoGuard Esophageal DNA Test and EsoCheck Esophageal Cell Collection Device, the company stated.

Allbirds has filed with the SEC for an initial public offering of shares of Class A common stock and announced in its filing that it has applied to list its Class A common stock on The Nasdaq Stock Market under the symbol "BIRD." In the IPO prospectus, Allbirds identifies itself as "a global lifestyle brand that innovates with naturally derived materials to make better footwear and apparel products in a better way, while treading lighter on our planet."

Allvue Systems Holdings has filed with the SEC for an initial public offering of shares of Class A common stock. Allvue Systems Holdings has applied to list its Class A common stock on the New York Stock Exchange under the symbol "ALVU." In the filing, Allvue stated, that "Allvue sets a new standard in technology for investment managers in the private capital and credit markets by pairing modern cloud-based software solutions with capabilities across multiple asset classes."

Rivian, the EV maker backed by Amazon (AMZN) and Ford (F), announced that it has confidentially submitted a draft registration statement on Form S-1 to the SEC relating to the proposed public offering of its common stock. The size and price range for the proposed offering have yet to be determined. The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.

Qiniu is a Chinese media and data cloud service platform that counts e-commerce giant Alibaba's (BABA) Taobao China as its biggest institutionla shareholder with a 17.7% stake.

Perspectum Group is a commercial-stage precision health company focused on "democratizing" care globally through the use of digital technologies. The company said its software products "combine expertise in image formation, magnetic resonance image analysis and artificial intelligence to support healthcare provider diagnosis, treatment decision-making and monitoring of the progression of chronic metabolic diseases, multi-organ pathologies and cancer, and determine whether the patient is responding to therapy."

Authentic Brands Group is the parent of apparel chains Aeropostale and Forever 21, department store operator J. C. Penney, and Sports Illustrated magazine among other holdings.

Portillo's has filed with the SEC for an initial public offering of its Class A common stock. The company intends to apply to have its Class A common stock listed on Nasdaq Global Select Market under the symbol "PTLO." The prospectus stated that, "Portillo's serves iconic Chicago street food through high-energy, multichannel restaurants designed to ignite the senses and create a memorable dining experience... As of June 27, 2021, we owned and operated 67 Portillo's restaurants across nine states."

Fabletics is a workout-apparel brand backed by Kate Hudson.

GitLab has filed with the SEC for an initial public offering of shares of its Class A common stock. The company has applied to list the Class A common stock on the Nasdaq Global Market under the symbol "GTLB." In its prospectus, GitLab stated, "GitLab is The DevOps Platform, a single application that brings together development, operations, IT, security, and business teams to deliver desired business outcomes."

Keter Group SA has filed with the SEC for an initial public offering in the U.S. The company intends to apply to list its ordinary shares on the New York Stock Exchange, or NYSE, under the symbol "KETR." In its prospectus, the company stated, "For over 70 years, Keter has inspired people to create amazing spaces in and around the home through an innovative, industry-leading portfolio of durable indoor and outdoor lifestyle solutions."

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