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Gemini IPO Priced at $28/Share, Valuing Crypto Exchange at $3.3B
Gemini IPO Priced at $28/Share, Valuing Crypto Exchange at $3.3B
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BTCCSquare news:
Gemini, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has priced its initial public offering at $28 per share, achieving a valuation of approximately $3.3 billion. The offering raised $425 million through the sale of 15.2 million shares, with demand exceeding supply by 20 times.
The shares are set to begin trading on the Nasdaq Global Select Market under the ticker symbol GEMI. This marks another milestone for crypto-native firms going public, following Bullish's recent IPO, which priced above expectations.
Nasdaq has committed to purchasing $50 million of Gemini's Class A common stock in a private placement, signaling institutional confidence. Goldman Sachs, Citigroup, Morgan Stanley, and Cantor led the underwriting.
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