Opening Day: Golf putter maker soars in debut, becomes best IPO of 2023

Shares of Sacks Parente Golf soared in their first trading day, skyrocketing more than 600% after opening at $4. The company, which makes golf equipment including $400 putters, closed above $28 on Tuesday.

LATEST IPOS AND DIRECT LISTINGS:

Sacks Parente Golf (SPGC) opened on August 15 at $4.40. The company had priced its initial public offering of its 3.2M shares at a price of $4.00 per shares. Sacks has a portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related products.

SRM Entertainment (SRM) opened on August 15 at $4. The company had priced its initial public offering of 1.25M shares at $5.00 per share. SRM is a toy and souvenir designer and developer, selling into theme parks and entertainment venues.

RECENT SPAC IPOS:

99 Acquisition Group (NNAG) opened on August 18 at $10.14. The blank check company intends to focus its search for a target business in the real estate industry with an aggregate combined enterprise value of approximately $75M to $150M.

PERFORMANCE:

• Sacks Parente Golf ended the week at $2.51.
• SRM Entertainment finished Friday at $2.10.

RECENT IPOS TO WATCH:  ParaZero (PRZO), Surf Air Mobility (SRFM), Warrantee (WRNT), Earlyworks (ELWS), Janover (JNVR) 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 Instacart, VS Media, (VSME), Simpple (SPPL), and SoftBank’s Arm.

Click here to see upcoming IPO calendar on TipRanks.

Instacart is planning an initial public offering as soon as September, Bloomberg‘s Katie Roof and Jackie Davalos report, citing people familiar with the matter. The largest US online grocery-delivery company could publicly file its plans for an IPO with the US Securities and Exchange Commission as soon as next week, said the people.

VS Media has applied for an initial public offering listing up to 2M shares on the Nasdaq under the symbol “VSME” and expects the offering price will be $5.00 per share. Founded in 2013, the company, incorporated in the British Virgin Islands, manages a network of digital creators who create and publish content to social media platforms.

Simpple filed an initial public offering of 1.625M ordinary shares. The estimated initial public offering price is expected to be between $4.00-$5.00 per share. The company has applied to list its shares on the Nasdaq Capital Market under the symbol “SPPL.”

SoftBank’s (SFTBY) Arm Ltd. has filled out the roster of underwriters for its initial public offering, with 28 banks in all on the deal, Bloomberg‘s Amy Or and Liana Baker report, citing people familiar with the matter. In addition to four lead banks — Barclays (BCS), Goldman Sachs (GS), JPMorgan (JPM) and Mizuho Financial Group (MFG) — the offering will have 10 second-tier underwriters, including Bank of America (BAC), Citigroup (C), Deutsche Bank (DB) and Jefferies Financial (JEF), the people said.

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