Gemini raises its U.S. stock IPO fundraising target to $433 million

ChainCatcher news, according to Bloomberg, the cryptocurrency trading platform Gemini has raised the price range for its U.S. stock IPO from $17–19 to $24–26, issuing 16.7 million shares; at the upper limit, the valuation is approximately $3.1 billion. Nasdaq has subscribed to $50 million in private placement shares, and after the IPO, it will be listed on Nasdaq under the ticker GEMI. The company reported a net loss of $283 million and revenue of $68.6 million in the first half of the year.