Sidus Space,a satellite company, rocketed nearly 144% in its first day as a public company Tuesday, while Fresh Vine Wine,a producer of low-carb wine, dropped below its offer price.
Sidus and Fresh Vine are the first of roughly seven companies that are expected to open for trading this week. Samsara, an internet of things company and the most high-profile IPO this week, is slated to list its shares on Wednesday.
There aren’t any IPOs currently scheduled to trade next week. New issues typically shut down in late December because of the holidays, and they don’t reopen until mid-January.
Shares of Sidus (ticker: SIDU) launched at $27 and closed at $12.19, up $7.19 from its offer price.
The strong debut came after Sidus raised $15 million. The company sold 3 million shares at $5, the middle of its $4 to $6 range. Boustead Securities was the underwriter on the deal.
Sidus, which is Latin for “resembling a star,” designs, makes and launches commercial satellites. Located in Cape Canaveral, Fla., Sidus calls itself a “space-as-a-service company.” It operates a 35,000-square-foot testing facility. Sidus designs and makes flight and ground components, as well as systems, for government and commercial customers, including space agencies, the prospectus said.
Carol Craig, Sidus’ CEO, will own 94.2% of common stock after the IPO, a prospectus said. Craig is also CEO of Craig Technologies, an aerospace and defense contractor
Shares of Fresh Vine Wine (VINE) opened at $9.33, below the offer price, and dropped from there. The stock ended at $7.05, down nearly 30% from its IPO price.
The dismal debut came after Fresh Wine raised $22 million. The company sold 2.2 million shares at $10 each, the top of its $9 to $10 price range. Oak Ridge Financial Services Group was lead underwriter on the deal.
Fresh Vine operates in the “better for you” category, producing wines that are low-carb and low-calorie. The company offers its wine through wholesale, retail, and direct-to-consumer channels. Bottles typically sell for between $15 to $22 each, a prospectus said.
Nina Dobrev, an actress known for her role on “The Vampire Diaries,” and Julianne Hough, a dancer on “Dancing with the Stars,” are cofounders of Fresh Vine. Janelle Anderson, former global marketing officer at American Airlines, joined Fresh Vine in August as chief marketing officer. She was named CEO in September.
Dobrev and Hough will each own 9% of Fresh Vine after the IPO, the prospectus said.