FGI Industries (NASDAQ:FGI) began trading on January 25 at $5 after having priced at $6. The deal size was 2.5M with a proposed range of $6-8. FGI is a supplier of kitchen and bathroom products and fixtures, a majority of which are sold under private-label brands such as Home Depot’s Glacier Bay and Ferguson’s Pro-Flo. Stock closed 37% down from IPO price at $3.77 on Friday.
Security-robot maker Knightscope (NASDAQ:KSCP) began trading on January 27 at $14.44 after having priced at $10, however later it closed the day at $5.91. The stock rebounded sharply closing 240% higher at $20.14, double the issue price after adding one of Knightscope’s K5 robots to its security plan for a major US finance company. The company raised $22.4M through the sale of 2.2M shares.
Credo Technology Group (NASDAQ:CRDO) began trading on January 27, opened at $12.10, hitting an intraday high of $12.50 and a low of $10.80 after having priced IPO at $10. The deal size was 20M shares. The company is a provider of high-performance serial connectivity solutions for the hyperscale datacenter, 5G carrier, enterprise networking, artificial intelligence, and high-performance computing markets. Stock ended at $11.2 on Friday.
Eyes on the upcoming IPOs:
Direct Digital (DRCT) has filed to raise $41.4M, deal size being 4M shares in the range of $7-9. The company provides buy and sell-side programmatic advertising capabilities to small and medium businesses in the U.S. Management is headed by co-founder, Chairman and CEO Mark Walker, who has been with the firm since inception and was previously Acting COO for Ebony Media Operations.
Blue World Acquisition (NASDAQ:BWAQU) has filed to raise $92M, deal size being 8M shares at $10. The company plans to target opportunities in the marine leisure, cruise, marine infrastructure and engineering, general hospitality, and travel and tourism industry segments, among others, within the US and Asia Pacific markets (excluding China).
TC BioPharm (TCBP) has filed to raise ~$34.5M, deal size being 3.75M shares at $7.99. The company is a clinical development company with a cell-based product pipeline capable of treating a variety of disorders including cancer and severe viral infections.
Verdant Earth Technologies (VDNT) has filed to raise ~$64.7M, deal size being 6.25M shares in the range of $7-9. The company was founded in 2018 and is an Australian hydrogen, renewable energy asset and technology developer; company is seeking to repurpose a coal-fired energy plant in Australia into a biomass-based energy provider.