Gemini Space Station, Inc. has announced a new increase in its share price ahead of its debut on the Nasdaq stock exchange. Before the public offering, the company set the final share price at $28, which will allow it to raise $425 million with a market valuation of over $3 billion.
This is reported by Business • Media
Changes in Offering Structure and Company Control
Gemini has also adjusted the offering parameters: the number of shares for the initial offering has been reduced to 15,178,572 shares, with an additional 758,929 shares reserved for a 30-day option. The initial price range for the IPO was set at $17-19, which was later raised to $24-26, and ultimately settled at $28 per share.
The offering is being organized by leading investment banks: Goldman Sachs & Co. LLC, Citigroup, Morgan Stanley, and Cantor. Trading of Gemini shares will begin on the Nasdaq Global Select Market under the ticker GEMI on September 12, 2025.
Winklevosses Retain Control, Investors Offered a Stake
Bros Tyler and Cameron Winklevoss, who are co-founders of Gemini, owned nearly the entire company prior to the IPO. After the offering, they will retain control of over 94% of the shares, allowing them to continue determining the strategic direction of the platform.
“The Winklevoss twins will retain over 94% of the company.”
For insiders and regular users, the company has allocated up to 10% of shares, with an additional 30% available to retail investors through popular platforms such as Robinhood, SoFi, and Webull.
At the same time, political tension has arisen around Gemini’s IPO: Brian Quintenz, a candidate for the chair of the Commodity Futures Trading Commission, accused one of the brothers of blocking his appointment, which may affect the public perception of Gemini’s debut on the exchange.