Gemini Space Station, Inc., a global cryptocurrency platform, said Thursday it has priced its initial public offering at $28 per share, with trading expected to begin Friday on the Nasdaq Global Select Market under the ticker symbol “GEMI.”
The offering covers 15.2 million shares of Class A common stock, with closing expected Sept. 15, pending customary conditions. At the IPO price, the offering is projected to raise more than $425 million before underwriting discounts, commissions, and expenses.
Details of the Offering
Alongside Gemini’s share sale, certain existing stockholders are offering additional shares. The company noted it will not receive proceeds from those secondary sales. Underwriters have been granted a 30-day option to purchase up to 759,000 additional shares, divided between Gemini and selling shareholders, to cover potential over-allotments.
Goldman Sachs and Citigroup are leading the underwriting group. They are joined by Morgan Stanley and Cantor as lead bookrunners, while Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, Needham & Company, and Rosenblatt are serving as bookrunners. Academy Securities, AmeriVet Securities, and Roberts & Ryan are listed as co-managers.
Regulatory Filings and Prospectus
The company’s registration statement was declared effective by the Securities and Exchange Commission, allowing the IPO to proceed. The shares are being offered only through a prospectus filed with the SEC. Copies of the document are available on the regulator’s website or through the lead underwriters.
Gemini emphasised that its announcement does not represent an offer to sell or a solicitation to buy the securities in jurisdictions where such actions would be unlawful before registration or qualification under local laws.
