The Winklevoss-backed crypto firm Gemini has successfully completed its offering of Class A common shares on Thursday, raising $425 million at $28 per share.
The company priced its stock above its range of $24-$26 per share, which was another upward revision on an initial range of $17-$19 per share.
Gemini capped proceeds at $425 million
Gemini was initially offering 16.6 million shares in its S1 filing, but has capped proceeds at $425 million, selling a total of 15.2 million shares.
Nasdaq has committed an amount of $50 million for investment. Gemini offers a crypto trading platform, a Gemini USD stablecoin, advanced trading tools, credit cards, and institutional products.
Gemini shares are to begin trading on NASDAQ on Friday under the ticker ‘Gemi’, as per a Reuters report.
A trend has been underway with crypto firms such as Bullish, Circle, and Figure going public under a crypto-friendly Trump Administration.
The Winklevoss brothers co-founded Gemini in 2014. They sued Mark Wahlberg in 2004, alleging that he stole one of their ideas to make Facebook, which is now called Meta. Gemini reported a net loss of $158 million in 2024 and a loss of $283 million in the first half of 2025.