Solo Brands Inc.'s stock /zigman2/quotes/230552065/composite DTC -8.66% soared out of the gate Thursday, as the first trade on the NYSE was 31.5% above the initial public offering price. The Texas-based maker of Solo fire pits and stoves said overnight that it raised $219.4 million as it sold 12.90 million Class A shares in the IPO, which priced at $17 a share, at the top of the expected range of between $14 and $17 a share. The first trade was at $22.36 at 11:24 a.m. Eastern for 1.8 million shares. With a total of 95.49 million Class A and Class B shares outstanding expected after the IPO, the first trade's price values the company at about $2.14 billion. The stock's strong opening performance comes on a day that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +2.03% rallied 1.2% while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.31% gained 0.8%.