Gemini Upsizes IPO Target, Valuation Could Exceed $3 Billion
- Gemini plans to sell shares at an increased price range of $24-26, up from the initial $17-19.
- The firm will offer approximately 16.67 million shares under the ticker GEMI.
- Gemini’s valuation could surpass $3 billion with this updated IPO pricing.
- A separate agreement with Nasdaq Inc. involves selling $50 million worth of shares at the IPO price.
The American crypto exchange Gemini has increased its expected IPO share price, potentially elevating its market valuation significantly above initial estimates. This move follows a trend seen with other crypto firms like Circle, which also adjusted its IPO offering amid high demand.
By raising the IPO share price to between $24-26, Gemini aims to enhance its market presence and capital raise, setting a potential valuation exceeding $3 billion as it prepares to go public under the ticker GEMI. (Source)
