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TPG raised $1 billion in its initial public offering after pricing its IPO at a $9 billion valuation. The company goes public with a 30-year track record that includes investments in Uber (UBER) and Spotify (SPOT), and a recent spinoff of its credit-investing arm.

Latest IPOs and Direct Listings

TPG (TPG) opened on Jan. 13 at $33. The company had priced 33.9 million shares at $29.50. The deal range was $28.00-$31.00. JPMorgan, Goldman Sachs, Morgan Stanley, TPG Capital, and BofA acted as joint book running managers for the offering.

TPG is a global alternative asset management firm with $109 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms -- Capital, Growth, Impact, Real Estate, and Market Solutions -- and says that its "unique strategy is driven by collaboration, innovation, and inclusion."

CFSB (CFSB) opened at $10. CFSB Bancorp, the holding company for Colonial Federal Savings Bank, completed its initial public offering and the mutual holding company reorganization of the bank on Jan. 12. The company sold 2,804,306 shares of common stock at $10.00 per share for gross offering proceeds of $28 million. The offering was not oversubscribed. Piper Sandler was the company's selling agent in the offering.

Hillstream BioPharma (HILS) opened on Jan. 12 at $3.75. The company had priced 3.75 million shares at $4.00. The deal size was increased to 3.75 million shares from 3.0 million and priced below $5.00-$6.00 range. ThinkEquity acted as sole book running manager for the offering.

Hillstream is developing therapeutic candidates targeting ferroptosis, which it calls "an emerging new anti-cancer mechanism resulting in iron mediated cell death for treatment resistant cancers." The company has said its most advanced product candidate is HSB-1216, adding that it intends to start a clinical study with HSB-1216 in 2022 to "expand upon the existing early clinical proof-of-concept."

Performance

• TPG ended the week at $32.79.
• CFSB finished Friday at $10.49.
• After opening at $3.75, Hillstream BioPharma ended the week at $2.85.

Upcoming IPOs

Upcoming IPO and direct listings expected include Bitdefender, Phoenix Motor, Nuvo Group, Austin Gold, Chobani, FreeCast, 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 states:

"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 states: 

"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 TV guide.