Gemini Lifts IPO Price Range Amid Strong Demand
Winklevoss twins-backed Gemini has raised its proposed IPO price range, now aiming for a valuation of up to $3.08 billion. The cryptocurrency exchange plans to raise $433.3 million by selling 16.67 million shares priced between $24 and $26 each. This is an increase from the earlier proposed range of $17 to $19 per share. Additionally, the company has secured a $50 million private placement commitment from Nasdaq to support the listing.
Market Conditions Boost IPO Activity
IPO activity in the U.S. has started recovering as fall trading gains momentum. Strong equity markets and expectations of lower interest rates are driving optimism, even as inflation and tariff concerns linger. These favorable conditions are helping improve sentiment toward new listings, especially in sectors where growth potential remains high.
Crypto Firms See Increased Interest
Crypto-focused companies have emerged as standout issuers in the current IPO wave. Regulatory clarity, institutional adoption, and rising ETF inflows are all contributing to stronger demand for digital asset firms. Gemini is expected to price its IPO on Thursday and will list on the Nasdaq under the ticker “GEMI.” Once public, the firm will join Coinbase and Bullish as the third cryptocurrency exchange to be publicly traded.
