Gemini, a global crypto platform founded by Cameron and Tyler Winklevoss in 2014, priced its initial public offering of 15,178,572 shares of Class A common stock at $28.00 per share, raising approximately $425 million.
In connection with the offering, Gemini and certain selling stockholders granted the underwriters a 30-day option to purchase up to an additional 300,565 and 458,364 shares, respectively, to cover over-allotments. Gemini will not receive any proceeds from shares sold by the selling stockholders.
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Gemini’s Class A common stock is expected to begin trading on the Nasdaq Global Select Market under the ticker symbol GEMI on September 12. The offering is expected to close on September 15, 2025, subject to customary closing conditions.
Goldman Sachs & Co. LLC and Citigroup are acting as lead bookrunners, with Morgan Stanley and Cantor Fitzgerald also serving as lead bookrunners.
