Opening Day: Fitness Champs makes public debut in slow IPO week

The aquatic sports education provider Fitness Champs opened for trading on Thursday in a slow week for IPOs in the U.S.

LATEST IPOS AND DIRECT LISTINGS:

• Fitness Champs (FCHL) opened on September 4 at $3.90. The aquatic sports education provider in Singapore priced its initial public offering of 3.75M ordinary shares at a price to the public of $4.00 per ordinary share. 2M shares are being offered by the company and 1.75M by selling shareholders, the company noted.

RECENT SPAC IPOS:

• GSR IV Acquisition (GSRF) opened on September 4 at $10.02. The units are listed on the Nasdaq Global Market under the ticker symbol “GSRFU.” Once the securities comprising the units begin separate trading, the Class A Ordinary Shares and Rights are expected to be listed on the Nasdaq under the symbols “GSRF” and “GSRFR,” respectively. 

PERFORMANCE: Prices as of 11 am ET on Monday, September 8

• Fitness Champs – up over 5% at $4.85.

RECENT IPOS TO WATCH: Bullish (BLSH) and Miami International (MIAX) are already seeing coverage roll out, while Nasus Pharma (NSRX), BUUU Group (BUUU), rYojbaba (RYOJ), and NusaTrip (NUTR) are among stocks that could see new coverage this week as the quiet periods for banks that underwrote the companies’ IPOs expire.

UPCOMING IPOS: Upcoming IPO and direct listings expected include Sea Forres (SFTI), Farlong Holding (AFA), Gemini (GEMI), Black Rock Coffee Bar (BRCB), and Netskope (NTSK).

Click here to see upcoming IPO calendar on TipRanks.

• Sea Forrest International (SFTI) has filed for an initial public offering of 3.75M Class A shares and anticipates that the initial public offering price of the Class A shares will be between $4.00 and $4.50 per share. The company plans to list its Class A shares on the Nasdaq Capital Market under the symbol “SFTI”. The prospectus filed with the SEC stated in part, “The company is headquartered in Singapore and through the subsidiaries SF (Engineering) and SF (Power), are involved in engineering design and consultancy services in energy management and clean energy systems, and wholesale of marine equipment and accessories, ship and offshore structure repairs and modification while afloat, relating to offshore maintenance, repairs, and overhauling services.”
• AFA Farlong Holding has filed for a firm commitment initial public offering of shares of common stock. The company has reserved the symbol “AFA” for purposes of listing its common stock on the Nasdaq Capital Market and applied to list its common stock on Nasdaq. The prospectus filed with the SEC states, “We are a science-driven healthcare and wellness company pioneering innovative solutions and personalized health approaches. Our vertically integrated brands provide actionable insights and personalized healthcare data, products, and services to help individuals proactively improve and maintain their health. We develop product formulations and engage contract manufacturers to produce our proprietary supplements, which we then market and distribute. Our brands engage in the sale of dietary supplements, encompassing herbal products through various sales arrangements.”
• Gemini Space Station announced that it has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering of its Class A common stock. Gemini is a global crypto platform founded by Cameron and Tyler Winklevoss in 2014. Gemini offers a wide range of crypto products and services for individuals and institutions in over 60 countries. “Gemini’s simple, reliable, and secure products are built to unlock the next era of financial, creative, and personal freedom,” the company states. The number of shares to be offered and the price range for the proposed offering have not yet been determined. Gemini intends to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “GEMI.” Goldman Sachs and Citigroup are acting as lead bookrunners. Morgan Stanley and Cantor are also acting as lead bookrunners.
• Black Rock Coffee Bar announced the launch of the initial public offering of 14,705,882 shares of its Class A common stock. The initial public offering price is currently expected to be between $16.00 and $18.00 per share. Black Rock Coffee Bar expects to grant the underwriters a 30-day option to purchase up to an additional 2,205,882 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions. Black Rock Coffee Bar has applied to list its Class A common stock on the Nasdaq Global Market under the ticker symbol “BRCB.” J.P. Morgan, Jefferies, Morgan Stanley and Baird are acting as lead book-running managers for the proposed offering. Stifel and William Blair are acting as additional book-running managers and Raymond James is acting as lead manager for the proposed offering.
• Netskope announced that it has filed a registration statement with the SEC relating to the proposed initial public offering of its Class A common stock. Netskope has applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol “NTSK.” The number of shares to be offered and the price range for the proposed offering have not yet been determined. Morgan Stanley and J.P. Morgan will act as lead book-running managers for the proposed offering. BMO Capital Markets, TD Cowen, Citizens Capital Markets, Mizuho, Wells Fargo Securities, and Deutsche Bank Securities will act as additional book-running managers. Oppenheimer & Co., BTIG, KeyBanc Capital Markets, Piper Sandler, William Blair, Santander, and Credit Agricole CIB will act as bookrunners.

Opening Day” is The Fly’s recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.