Gemini Space Station Launches Initial Public Offering

NEW YORK - On September 2, 2025, Gemini Space Station, Inc., the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, officially commenced its initial public offering (IPO), filing a registration statement on Form S-1 with the U.S. Securities and Exchange Commission. The company plans to offer 16,666,667 shares of Class A common stock at an expected price range of $17.00 to $19.00 per share, with underwriters granted a 30-day option to purchase up to an additional 2,396,348 shares from Gemini and 103,652 shares from selling stockholders to cover over-allotments.

Goldman Sachs & Co. LLC and Citigroup serve as lead bookrunners, joined by Morgan Stanley and Cantor Fitzgerald, with Evercore ISI, Mizuho Securities, Truist Securities, Cohen & Company Capital Markets, Keefe Bruyette & Woods, Needham & Company, and Rosenblatt Securities acting as additional bookrunners. Academy Securities, AmeriVet Securities, and Roberts & Ryan are co-managers on the deal.

Gemini anticipates net proceeds of approximately $272.3 million from the offering-potentially rising to about $313 million if the over-allotment option is exercised-assuming the IPO prices at the midpoint of the range. The company intends to use the funds for general corporate purposes, including product development, administrative expenses, capital expenditures, and debt repayment.

Upon completion, Gemini’s Class A common stock will trade on the Nasdaq Global Select Market under the ticker symbol “GEMI.” The IPO marks a significant milestone for Gemini, positioning it as one of the first major cryptocurrency platforms to pursue a U.S. public listing and reflecting growing institutional interest in the digital‐asset sector.