Strategy underwriter Clear Street postpones IPO and significantly reduces IPO fundraising target

According to Reuters, the underwriter Clear Street for Strategy announced the postponement of the U.S. IPO originally scheduled for Friday, citing "poor market conditions." Additionally, the company has significantly reduced its Nasdaq IPO fundraising target from an initial goal of $1.05 billion to $364 million. After the reduction, Clear Street's valuation is approximately $7.2 billion, down from the previous target valuation of $11.8 billion.

In recent years, Clear Street has become one of the leading underwriters for cryptocurrency-related stock offerings, having provided underwriting services for several crypto treasury companies, including multiple stock offerings for Strategy, and also served as the underwriter for Trump Media & Technology Group.

ChainCatcher previously reported that Clear Street, the underwriter behind Strategy, plans to go public as early as January next year.