Cryptocurrency exchange Gemini sets the listing price at $28 per share and will be listed on the Nasdaq during the day
Cryptocurrency exchange Gemini (GEMI.US) announced a listing price of $28 per share, confirming earlier media reports that it is above the target range of $24 to $26 per share, raising a total of $425 million. The shares will be listed on the Nasdaq Stock Market (NDAQ.US) on Friday (12th), and the Nasdaq has committed to purchasing $50 million worth of shares in a private placement.
According to Reuters, the company's decision to lock in the fundraising amount at $425 million is unusual, as its IPO recorded over 20 times oversubscription
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