Shares of Amylyx Pharmaceuticals slipped in their trading debut following a strong opening on Friday. Amylyx said it expects gross proceeds of $190 million, and has granted the underwriters a 30-day option to buy up to an additional 1.5 million shares. The company aims to treat amyotrophic lateral sclerosis by addressing the death of neurons.

LATEST IPOS AND DIRECT LISTINGS:

Amylyx Pharmaceuticals (AMLX) opened on January 7 at $21 after having priced 10M shares at $19.00. The deal size was raised to 10M shares from 8.75M shares and the range was $18.00-$20.00. Goldman Sachs, SVB Leerink, Evercore ISI and H.C. Wainwright acted as joint book running managers for the offering. Amylyx is a clinical-stage pharmaceutical company working on developing a novel therapeutic for amyotrophic lateral sclerosis, or ALS, and other neurodegenerative diseases.

Hour Loop (HOUR) opened on January 7 at $4.50. The company priced 1.5M shares at $4.00 in its initial public offering, for which EF Hutton acted as sole book running manager. Hour Loop is an online retailer engaged in e-commerce retailing in the U.S. market that manages more than 100,000 stock-keeping unit, or SKUs. It has operated as a third-party seller on Amazon.com (AMZN) and has sold merchandise on its own website since 2013.

Cincor Pharma (CINC) opened on January 7 at $21 after the company priced 12.1M shares at $16.00. The deal size was increased to 12.1M shares from 11M shares and priced between the $15.00-$17.00 range. Morgan Stanley, Jefferies, Evercore ISI and Oppenheimer acted as joint book running managers for the offering. CinCor Pharma is a clinical-stage biopharmaceutical company focused on developing its lead clinical candidate, CIN-107, for the treatment of hypertension and other cardio-renal diseases.

Vigil Neuroscience (VIGL) opened on January 7 at $12 after having priced 7M shares at $14.00. The deal range was $15.00-$17.00. Morgan Stanley, Jefferies, Stifel and Guggenheim acted as joint book running managers for the offering. Vigil Neuroscience is a clinical-stage biotechnology company focused on "harnessing the power of microglia" for the treatment of both rare and common neurodegenerative diseases.


PERFORMANCE:

• Amylyx Pharmaceuticals ended the week at $18.07.
• Hour Loop finished Friday at $7.99.
• After opening at $21, Cincor Pharma ended the week at $16.
• Vigil Neuroscience finished Friday at $12.65.

UPCOMING IPOS:

Upcoming IPO and direct listings expected include Bitdefender, Phoenix Motor (PEV), Nuvo Group (NUVO), Austin Gold (AUST), Chobani (CHO), FreeCast (CAST), Keter Group (KETR), Qiniu (QNIU), Jin Medical (ZJYL) and Reddit.

Reddit, the social media company that helped fuel 2021’s meme stock frenzy, is working with Morgan Stanley and Goldman Sachs to go public as soon as March, Bloomberg's Katie Roof and Crystal Tse report, citing people familiar with the matter. Reddit could be valued at as much as $15 billion in an initial public offering, the people said.

Bitdefender Holding B.V., which identifies itself as "a global cybersecurity leader," announced that it has confidentially submitted a draft registration statement on Form F-1 to the U.S. Securities Exchange Commission for the proposed initial public offering of its securities in the United States. "The timing, size and price range for the proposed offering have yet to be determined. The initial public offering is subject to SEC and other regulatory review processes, as well as market and other conditions," the company said. Bitdefender did not disclose a proposed ticker symbol for its anticipated stock offering.

Phoenix Motor filed for an initial public offering on the Nasdaq under symbol (PEV).  Upon the closing of the offering, Phoenix Motor will be a "controlled company" within the meaning of the corporate governance standards because more than 50% of the voting power of its outstanding common stock will be beneficially owned by SPI Energy (SPI). Phoenix Motor currently designs, assembles, and integrates electric drive systems and light and medium duty electric vehicles and markets and sells electric vehicle chargers for the commercial and residential markets. The company delivered its first commercial electric vehicle in 2014. It develops and integrates an electric drivetrain into the Ford Econoline Chassis, specifically on the Ford (F) E-450.

Nuvo Group has filed with the SEC for an initial public offering of ordinary shares and has applied to list its ordinary shares on the New York Stock Exchange under the symbol "NUVO." The company's prospectus stated that, "We believe we are the most advanced data-driven remote healthcare solution focused exclusively on pregnancy care. Our business model today consists of a hardware/software hybrid platform that provides remote access to medical-grade data to all key participants in the pregnancy care ecosystem. Our solution, which we refer to as our INVU platform, is at the core of our business model and provides connected pregnancy care management both at home and in the clinic."

Austin Gold, a gold exploration company focused on gold targets and making district-scale gold discoveries in Nevada, has submitted an application for listing its common shares for trading on the NYSE American under the symbol “AUST.”

Chobani has filed with the SEC for an initial public offering, stating that it expects that the shares of its Class A common stock will trade on the Nasdaq Global Select Market under the symbol "CHO." In its prospectus, Chobani stated that, "At Chobani, we are an anti-traditional consumer packaged goods company. We challenge the old, staid and conventional status quo represented by our legacy competitors by creating food that is delicious, natural, nutritious and accessible... We currently sell our products in single-serve, multi-serve, and/or multi-pack formats through approximately 95,000 retail locations in the United States... Chobani also has an international presence through the operation of a manufacturing facility in Melbourne, Australia and participates in certain international export markets, such as Mexico and Canada. "

FreeCast has filed with the SEC for an initial public offering of common stock and has applied to list its common stock on the Nasdaq Capital Market, or Nasdaq, under the symbol "CAST." FreeCast is an entertainment-based content discovery, aggregation and management company that provides SmartGuide digital interactive technology for consumers to organize numerous sources of online media similar to a traditional on-screen television, or TV, guide.

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 that, "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."

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

Jin Medical International has filed for an offering of 5M ordinary shares in an initial public offering. The offering price of its ordinary shares in this offering is expected to be in the range of $5 to $6 per share, Jin said in a filing with the SEC. The company has applied to list its ordinary shares on the Nasdaq Capital Market under the symbol "ZJYL." The China-based VIE, Changzhou Zhongjing and its subsidiaries, design and manufacture wheelchairs and living aids products for people with disabilities, the elderly, and people recovering from injury.

OTHER NOTABLE SYNDICATE NEWS:

On July 6, 2021, Authentic Brands Group (AUTH) initially filed a registration statement with the SEC. The company has requested that the SEC consent to the withdrawal of the registration statement. The company is seeking withdrawal of the registration statement because it no longer wishes to conduct a public offering of securities at this time.

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