a chipmaker, leads a trio of companies to public markets on Thursday.
known for its barbecues and fireplaces, and its clean energy storage business
are also open to trade.
GlobalFoundries and Fluence will both open on the Nasdaq, while Solo will be listed on the New York Stock Exchange.
This week, nearly a dozen companies were scheduled to go public. Three businesses opened on Wednesday. Rent the Runway (ticker: RENT), the online fashion rental company, fell 8% from its initial public offering of $ 23.
(INFA), the data management company backed by private equity firm Permira, has closed dish at its offer price of $ 29.
(AIP), a chip technology provider, rose 17% after his deal priced at $ 14 per share.
The IPO market has become more demanding, and not all growing companies will win in the secondary market, investment bankers have said. Six companies were due to go public on Thursday, but only three are opening their doors. Ensemble Health Partners, Candela Medical and LianBio were also due to register on Thursday. Ensemble Health, which provides revenue cycle management software for healthcare systems, including hospitals, has postponed its offering due to unfavorable market conditions. Ensemble said it will continue to assess the timing of the proposed IPO, according to an assertion.
Candela, who makes devices for cosmetic surgery, has also postponed her registration, a person familiar with the matter said. LianBio did not immediately respond to a request for comment.
GlobalFoundries is one of the most anticipated IPOs of the fourth quarter. The company raised nearly $ 2.6 billion after selling 55 million shares at $ 47 each, the top of its price range of $ 42 to $ 47. It will be traded under the symbol GFS.
GlobalFoundries manufactures integrated circuits that power electronic devices, such as cars, cell phones and personal computers. The company was established in 2009 when Advanced Micro Devices (AMD) separated its manufacturing operations. At $ 47 a share, GlobalFoundries claims a valuation of $ 25 billion.
Solo Brands, which makes nearly smoke-free fireplaces and barbecues, raised $ 219.3 million. Sold alone 12.9 million shares at $ 17 each, also the top of its price range of $ 14 to $ 17. It will be traded under the symbol DTC.
Founded in 2011, Solo is a direct-to-consumer platform for outdoor lifestyle brands. The company is known for its Solo Stove Lite, a portable camping stove that can boil water in under 10 minutes using just twigs, sticks and leaves. Solo launched its nearly smoke-free fireplaces in 2016. The company also offers kayaks, paddleboards, and men’s clothing. Summit Partners invested in Solo in 2020. The private equity firm will own 46% of Solo after the IPO, says a flyer.
Finally, Fluence Energy raised more than expected; the company raised $ 868 million after sale of 31 million shares at $ 28, above its range of $ 21 to $ 24. Its ticker is FLNC.
Created in January 2018 as a joint venture between Siemens AG and
(ticker: AES), Fluence Energy provides energy storage technology to utilities, developers, and commercial and industrial customers.
and AES will each hold 45.8% after the IPO, the flyer says.
Write to Luisa Beltran at [email protected]