Gemini, the cryptocurrency exchange platform founded by Cameron and Tyler Winklevoss, has raised $425 million in its initial public offering, according to a press release shared on September 12.
The company sold 15.18 million shares at $28 each, exceeding the expected price range of $24 to $26.
The offering, which is listed on the Nasdaq Global Select Market under the symbol GEMI, is led by major investment banks, including Goldman Sachs and Morgan Stanley.
According to reports, the Winklevoss twins will retain control of approximately 94.5% of the voting power after the IPO.
The exchange platform has also allocated part of the offering to its users and retail investors on platforms such as Robinhood.