Gemini Prices IPO at $28 Per Share
Gemini Space Station, the crypto exchange founded by Cameron and Tyler Winklevoss, launched its IPO at $28 per share. This price exceeded the expected range of $24 to $26. The shares will start trading on Nasdaq under the ticker symbol GEMI on September 12, 2025.
The IPO was oversubscribed more than 20 times. Gemini sold 15.1 million Class A shares, raising $425 million. The funds will support the company’s growth and expansion. The offering officially closes on September 15, 2025.
Underwriters and Share Options
According to a press release, Gemini and selling stockholders will grant underwriters a 30-day option. This option allows purchase of up to 300,565 additional shares by Gemini and 458,364 shares by selling stockholders. These shares cover potential over-allotments. Gemini will not receive proceeds from shares sold by the selling stockholders.
Goldman Sachs, Citigroup, Morgan Stanley, and Cantor serve as lead bookrunners. Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, Needham & Company, and Rosenblatt act as bookrunners. Academy Securities, AmeriVet Securities, and Roberts & Ryan are co-managers.
Wall Street’s Growing Interest in Crypto
Traditional financial firms are increasingly investing in crypto ventures. Nasdaq’s $50 million private placement in Gemini highlights this trend. It signals strong support from a leading stock exchange.
Despite reporting a net loss in its IPO prospectus, Gemini attracted strong investor demand. This shows confidence in the future of cryptocurrency. Investors value Gemini’s reputation as a regulated, secure, and user-friendly platform in a fast-changing market.
