TL;DR
- IPO Launch: Gemini is offering 16.67M Class A shares at $17–$19 each, aiming for a Nasdaq listing under GEMI, marking a major milestone in its growth strategy.
- Underwriters: A broad syndicate led by Goldman Sachs and Citigroup, with multiple co‑managers, will oversee the offering and potential over‑allotments.
- Global Platform: Founded in 2014, Gemini operates in 60+ countries, providing secure crypto products for individuals and institutions worldwide.
Gemini Space Station, Inc., a worldwide cryptocurrency platform established by Cameron and Tyler Winklevoss, has initiated its initial public offering (IPO) of 16,666,667 shares of Class A common stock. The offering, which has been registered with the U.S. Securities and Exchange Commission, is anticipated to be priced between $17.00 and $19.00 per share, depending on market conditions.
Offering Structure and Over-Allotment Option
Alongside the main offering, Gemini and specific selling stockholders will provide underwriters with a 30-day option to acquire up to an extra 2,396,348 and 103,652 shares, respectively, to address over-allotments. The IPO will be made solely through a prospectus, with no assurance on the final size, timing, or terms until the registration statement becomes effective. The firm has submitted an application to have its Class A common stock listed on the Nasdaq Global Select Market, using the ticker symbol GEMI.
Underwriting Syndicate
Goldman Sachs & Co. LLC and Citigroup are serving as lead bookrunners for the offering, joined by Morgan Stanley and Cantor in the same capacity. Additional bookrunners include Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods (a Stifel company), Needham & Company, and Rosenblatt. Academy Securities, AmeriVet Securities, and Roberts & Ryan will act as co-managers, rounding out a broad underwriting syndicate.
Regulatory and Legal Framework
The IPO remains contingent on the SEC declaring the registration statement effective. Until that occurs, no sales or offers can be made in jurisdictions where such actions would be unlawful without proper registration or qualification. The company highlighted that the press release should not be interpreted as an offer to sell or a solicitation for an offer to purchase the securities.
Company Background and Market Reach
Established in 2014, Gemini functions across more than 60 nations, providing cryptocurrency products and services to individuals as well as institutions. The platform positions itself as a secure, reliable gateway to digital assets, aiming to unlock new opportunities for financial, creative, and personal freedom. The IPO represents a significant milestone in Gemini’s growth trajectory, potentially expanding its capital base to support further innovation and global reach.
