Gemini has raised its planned IPO price to $24–$26, a move that could value the crypto exchange at more than $3 billion when it lists. The firm said in a September 9 SEC filing it will offer 16,666,667 common shares, and that the new shares will trade under the ticker GEMI, with trading expected to begin Friday.
The updated range replaces an earlier target of $17–$19 for the same number of shares. Founders Tyler and Cameron Winklevoss wrote in a letter attached to the filing that “financial markets are moving on-chain and digital assets are profoundly changing the way we transact and store value,” calling Gemini a “super app” for the crypto frontier.
Goldman Sachs, Cantor, and Morgan Stanley are among the underwriters. The filing also requests that roughly 10% of the IPO — about 1.67 million shares — be reserved for a directed share program, and notes a separate agreement with Nasdaq to sell $50 million of shares at the IPO price, less underwriting fees.
Why this matters: an upsized IPO signals strong demand for crypto industry listings and could further normalize institutional participation in digital-asset markets. That said, public listings can be highly volatile — as seen with Circle’s recent debut — so investors should be mindful of market risk and company-specific uncertainty when assessing any allocation.
Source: Decrypt. Read the original coverage for full details.
