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Gemini IPO soars above range as underwriters fully exercise option, shares surge on Nasdaq debut

Business

16 Sep 2025
by Caspian Holbrook
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Gemini IPO soars above range as underwriters fully exercise option, shares surge on Nasdaq debut

Gemini Space Station priced its IPO at $28, above both initial and revised ranges, raising about $425 million at a roughly $3.3 billion valuation. Shares began trading on Nasdaq as GEMI, opened at $37.01, spiked to $45.89, and briefly halted for volatility. Underwriters fully exercised the 2.5 million-share over-allotment. Up to 30% of the offering went to retail investors, and Nasdaq made a $50 million strategic investment.