Gemini sets IPO price at $28 and will raise $425 million with a valuation over $3 billion

Gemini Space Station, Inc., which operates the cryptocurrency exchange Gemini, announced the final terms of its initial public offering (IPO) on Nasdaq. The price per share will be $28, allowing the company to raise approximately $425 million and value the company at over $3 billion.

Initially, the price range was between $17–19, then it was raised to $24–26. Now the issuance has been finalized: 15,178,572 shares are being offered for sale, with an additional 758,929 shares reserved under a 30-day option.

The deal is being organized by Goldman Sachs & Co. LLC, Citigroup, Morgan Stanley, and Cantor. Trading on the Nasdaq Global Select Market will begin on September 12, 2025, under the ticker GEMI.

According to Bloomberg, the platform’s co-founders Tyler and Cameron Winklevoss owned almost the entire company before the offering and will retain control of 94.5% of the shares after the IPO.

Gemini has also reserved up to 10% of the shares for insiders and regular users, and up to 30% for retail investors through platforms like Robinhood, SoFi, and Webull.