Crypto/Finance
Gemini, Backed by the Winklevoss Twins, Sets IPO Price at $28 Per Share, Boosting Its Valuation to Over $3 Billion
The crypto exchange Gemini successfully priced its initial public offering (IPO) at $28 per share, bringing its total valuation to approximately $3.3 billion after selling 15.2 million shares to raise $425 million.
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Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has set its IPO price at $28 per share, resulting in a valuation of approximately $3.3 billion. The firm successfully sold 15.2 million shares, raising $425 million, as disclosed in a press release on Thursday.
The initial public offering (IPO) was highly sought after, being oversubscribed by 20 times as reported by Reuters.
The shares will start trading soon on the NASDAQ Global Select Market under the ticker symbol GEMI.
Additional Details:
- Goldman’s team led the IPO alongside Citigroup, Morgan Stanley, and Cantor.
- Gemini had previously raised its IPO price range to $24-$26, up from an original range of $17-$19.
