Gemini Space Station Raises $425M in Oversubscribed IPO, Priced Above Range
Gemini Space Station, the digital asset platform founded by Cameron and Tyler Winklevoss, has raised $425 million in its initial public offering. The company priced its shares at $28, surpassing the initially marketed range of $24 to $26. Demand for the offering was robust, with the book oversubscribed more than twenty-fold, leading bankers to halt further orders.
The Winklevoss brothers opted to cap the IPO at $425 million, a strategic MOVE to balance share price growth with maintaining control of the company. The offering signals strong investor appetite for crypto-related infrastructure, even in the absence of token offerings. Gemini's valuation now stands at $3 billion, reflecting the growing institutional interest in the digital asset space.
