IPO to be the third public cryptography exchange

The exchange of winklevos twins is the following in the row for a public debut in an index of actions.

Coinbase and Bullish have already made the leap and have raised some eyebrows. What follows for Gemini?

Ongoing procedures

Shared through a press release, Gemini Space Station, Inc., the parent company of the exchange, announced earlier this week that the initial public offering process (IPO) has begun, with the offer of more than 16.6 million common actions of class A.

This follows the statement of registration in form S-1 presented to the Bag and Securities Commission in the United States. Together with the offer, Gemini and the shareholders who will sell their actions plan to provide subscribers (a financial/professional institution that evaluates and assumes the risk of a potential loan) with the option of buying additional actions for a period of one month.

These amounts are 2,396,348 and 103,652 common class A actions, respectively, that will be used to cover excessive assignments (an option that allows insurers to sell up to 15% more actions than it initially planned). The price of the OPI for shares is currently established in a range of between $ 17 and $ 19, depending on the economic climate and other conditions.

In addition, the announcement says that there is no guarantee of when and if the offer will be completed, or the actual size of it. Gemini has requested a list in the Nasdaq index with the “GEMI” ticket. The main choruses (subscribers) are the financial giants Goldman Sachs, Citigroup and Morgan Stanley.

Will we see another star performance?

Remember Coinbase in 2021, which was direct for a direct list in the Nasdaq, instead of the usual IPO. Before the list, the reference price per share was $ 250, and at the end of the first day of negotiation, it closed to $ 328.28, a jump of 31%. Earlier this week, Coin quoted in Aron $ 303, which represents a lower decrease in recent years.

More recently, Bullish Exchange, which was launched in the New York Stock Exchange (NYSE) last month, also saw an impressive debut after its opi, which raised $ 1.1 billion, which makes its initial valuation $ 5.4b, with the value of the shares of $ 37.

Its first day of negotiation was fine, with the shares that opened at $ 90 and reached $ 118 peaks, which represents increases of 143% and 218%, respectively, before the end of the day at $ 68. In the print time, the price of the shares remains stable in around $ 62.

In particular, this IPO was unique in itself, since it was the first to establish itself completely in Stablecoins.

“Obtaining your IPO earnings in Stablecoins is a Baller movement. Great moment for all cryptography. Soon this will be the new normality.” – Brian Armstrong, CEO of Coinbase