Gemini Space Station, Inc. has revised the terms of its initial public offering (IPO) on the Nasdaq exchange, raising the stock price to $28 and reducing the offering size.
This is reported by Finway
Updated Terms of Gemini’s IPO
Before the trading begins on Nasdaq, the company announced an increase in the offering price to $28 per share. As a result, Gemini plans to raise $425 million, and its market capitalization will exceed $3 billion. Initially, the price range was set at $17–19, which was later increased to $24–26, and just before the debut, the final amount was determined at $28.
Additionally, the firm has reduced the offering size: during the IPO, 15,178,572 shares will be offered, and another 758,929 shares are reserved for a 30-day option. The underwriters for the deal are Goldman Sachs & Co. LLC, Citigroup, Morgan Stanley, and Cantor. Trading of Gemini shares will begin on the Nasdaq Global Select Market on September 12, 2025, under the ticker GEMI.
Ownership Structure and Investment Priorities
According to updated information, the exchange’s co-founders Tyler and Cameron Winklevoss will retain control of over 94% of the company after the IPO. Almost all shares prior to the offering belonged to them. At the same time, Gemini has reserved up to 10% of the securities for insiders and regular users, and up to 30% for retail investors through platforms like Robinhood, SoFi, and Webull.
“Gemini’s entry into Nasdaq may overshadow a political controversy. CFTC Chairman nominee Brian Quintenz previously accused one of the brothers of blocking his appointment.”
Thus, Gemini’s IPO is marked not only by an increase in valuation and changed offering terms but also by the founders’ retention of control over the company and heightened attention from investors and regulators.