Crypto Exchange Gemini said Tuesday that he is looking for an assessment of up to $ 2.22 billion in his initial public offer planned in the United States, preparing the scenario for one of the highest profile debuts in the sector this year.
The firm based in New York, founded by Cameron and Tyler Winklevos, plans to sell 16.67 million shares to a price range of $ 17 to $ 19, according to a press release. At the top of the range, Gemini would raise up to $ 317 million. The company recently hired Goldman Sachs, Citigroup, Morgan Stanley and Cantor as main booksellers.
Gemini first submitted a statement of registration s-1 before the US stock and values commission. UU. In June, entering an OPI market that has heated companies linked to cryptography after years of regulatory obstacles. The offer would put Gemini with cryptographic players that include the circle of stablecoin emitters (CRCL)ETORO COMMERCIAL PLATFORM (ETOR) and optimistic (BLsh)that have taken advantage of the public markets of the United States recently.
Financial revelations in June showed that Gemini generated $ 142.2 million in revenues in 2024, compared to $ 98.1 million the previous year. While it is still a fraction of the upper multimillionaire line of coinbase, growth suggests that Gemini has benefited from the increase in commercial activity as Bitcoin and other digital assets recovered.
The OPI would mark a milestone for the Winklevos Twins, who launched Gemini in 2014 and have presented it as a regulated and compatible alternative to exchanges in the high seas. This has sometimes resonated with US institutions with regulatory risk care, but Gemini has also faced obstacles, including a dispute with the bankruptcy lender Genesis that extracted the scrutiny of regulators.
For investors, Gemini’s appeal is based partly on its role as a medium -sized exchange that could benefit whether the adoption of cryptography continues to expand in the United States, the company would trade under the “GEMI” ticket.
