Gemini Space Station, which operates a cryptocurrency exchange, filed an amendment with the SEC on Tuesday disclosing the addition of a new investment from Nasdaq concurrent with its offering.
Nasdaq has agreed to purchase $50 million worth of shares at the IPO price in a concurrent private placement. The New York, NY-based company still plans to raise $300 million by offering 16.7 million shares at a price range of $17 to $19. At the midpoint of the proposed range, Gemini will now command a fully diluted market value of $2.3 billion (+2% vs. previous terms).
Gemini Space Station was founded in 2014 and booked $136 million in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol GEMI. Goldman Sachs, Citi, Morgan Stanley, Cantor Fitzgerald, Evercore ISI, Mizuho Securities, Truist Securities, Cohen & Company Securities, Keefe Bruyette Woods, Needham & Co., and Rosenblatt Securities are the joint bookrunners on the deal. It is expected to price the week of September 8, 2025.
