Gemini, a crypto exchange founded by Cameron and Tyler Winklevoss, announced the launch of an initial public (IPO) offering of 16.67 million sharing of Class A Common Stock.
GEMINI SPACE STATION Filed A form S-1 for IPO on Tuesday, which planned to sell shares priced between $ 17 and $ 19 per portion, to raise up to $ 317 million.
Subject to completion, filing will come weeks after company Filed with the US Securities and Exchange Commission To list its class a standard stock at the Nasdaq Global Select Market under the Gemi ticker on August 16th.
In IPO, the Gemini Exchange is looking for an appreciation of up to $ 2.22 billion, According to In a Reuters report.
Goldman Sachs, Citigroup Among the Lead Bookrunners
Gemini’s IPO involves participation from well -known financial institutions, including Goldman Sachs, Citigroup, Morgan Stanley and Cantor acting as lead bookrunners.
Additional bookrunners include Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, a Stifel Company, Needham & Company and Rosenblatt.
In addition, Academy Securities, Amerivet Securities, and Roberts & Ryan act as co-managers.
Gemini and the seller of the stockholders provided underwriters a choice for a period of 30 days from the date of the filing to buy up to the additional 2.4 million shares and 103,652 Class A sharing a standard stock in IPO price, lower underwriting discounts and commissions.
“We will not receive any proceeds from selling shares of sellers of stockholders in such an exercise,” he said.
The emerging growth company
In the filing, Gemini emphasized that it was filing for an IPO as an “emerging growth company,” which, according to US federal security laws, is subject to reduced public reporting requirements.
“We qualify as a ’emerging growth company’ as defined in Section 2 (a) (19) of the Securities Act of 1933,” Gemini wrote, and added:
“As a result, we are allowed, and intention to, relying on exceptions from some disclosure requirements that apply to other companies that are not emerging growth companies.”
Related: Grayscale submits confidential IPO filing with Sec
As an emerging growth company with reduced reporting reporting, Gemini revealed that it had only been shown two years of the financial statements and removed a compensation discussion, among other conveniences.
Gemini’s IPO filing came months after the company filed a confidential draft registration statement about its IPO in June, which allowed it to file for the IPO before revealing the sensitive information to the public.
Confidential filing arrives the next day after the circle, giving the second largest stablecoin through market capitalization, USDC (USDC) Debuted Trading on New York Stock Exchange On June 5.
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