Gemini Priced IPO at $28/Share, Valued at $3.3 Billion

Gemini, a crypto exchange backed by the Winklevoss twins, set its IPO price at $28 per share, valuing the company at approximately $3.3 billion.
The company raised $425 million by selling 15.2 million shares, with the offering being 20 times oversubscribed.
Shares will trade on the Nasdaq Global Select Market under the ticker symbol GEMI.
This IPO follows other crypto exchanges like Bullish, which recently went public at $37 per share.
Nasdaq agreed to purchase $50 million of Gemini's Class A common stock in a private placement at the IPO price.
Goldman Sachs, Citigroup, Morgan Stanley, and Cantor were lead underwriters for the IPO.
Gemini had previously increased its IPO price range from $17-$19 to $24-$26 per share.