Shares of Credo Technology rose more than 12% in their first trading day despite a tough IPO market. This was the first big technology offering of the year after Justworks postponed its deal that had been expected earlier this month.

LATEST IPOS AND DIRECT LISTINGS:

Credo Technology (CRDO) opened on January 27 at $12.10. The company had priced 25M shares at $10.00, at the bottom of the $10.00-$12.00 range. Goldman Sachs and BofA acted as joint book running managers for the offering. Credo is a provider of high-performance serial connectivity solutions for the hyperscale datacenter, 5G carrier, enterprise networking, artificial intelligence, and high-performance computing markets.

Knightscope (KSCP) opened on January 27 at $13.50. The developer of advanced physical security technologies focused on enhancing U.S. security operations had priced its offering for up to 4M Class A shares at $10 per share.

FGI Industries (FGI) opened on January 25 at $5. The supplier of kitchen and bath products had priced its initial public offering of 2.5M units, each consisting of one ordinary share and one warrant to purchase one of its ordinary shares, at a price to the public of $6.00 per unit. Benchmark and Northland acted as joint book running managers for the offering.


PERFORMANCE:

• Credo Technology finished Friday at $11.19.
• Knightscope ended the week at $16.29.
• After opening at $5, FGI Industries shares finished Friday at $3.77.

RECENT IPOS TO WATCH:

Amylyx Pharmaceuticals (AMLX), Hour Loop (HOUR), Cincor Pharma (CINC), and Vigil Neuroscience (VIGL) 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 Reddit, Bitdefender, Phoenix Motor (PEV), Chobani (CHO), FreeCast (CAST), Samba TV (SMBA), Direct Digital (DRCT), and Samsara Vision (SMSA).

Direct Digital provides buy side and sell side advertising platforms for advertisers and publishers.

Samsara Vision is a specialty medical device company "dedicated to bringing vision and freedom back to patients suffering from late-stage conditions of the retina," according to the company.

Samba TV has filed with the SEC for an initial public offering of shares of Class A common stock. The company has applied to list its Class A common stock on the New York Stock Exchange under the symbol (SMBA). In its prospectus, Samba TV stated in part, "We are transforming internet Connected TVs - CTVs - into a platform for our customers, which are comprised of brands, agencies, content programmers, publishers and measurement and advertising vendors, to build attentive, engaged audiences. Our AI-driven content identification software is embedded in CTVs sold by leading original equipment manufacturer - OEM - brands across the globe. Through our software, we form direct relationships with millions of viewers, who provide us consent to collect their viewership data... We are active in six countries today, with ambitions to expand into the more than 100 countries where CTVs integrated with our technology are sold."

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 reported, 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.

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 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.

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