$241.3M
is planning to enter public markets by offering 16.67 million shares of its Class A common stock.
The company submitted its registration paperwork on September 2 and aims to raise up to $317 million through the offering, with shares priced between $17 and $19.
This filing follows a prior application submitted on August 16 to have its Class A shares listed on the Nasdaq Global Select Market under the ticker symbol GEMI. If successful, the offering could value the company at roughly $2.22 billion, based on estimates cited by Reuters.
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Several financial firms are helping to move the IPO forward. Goldman Sachs, Citigroup, Morgan Stanley, and Cantor have been named as lead bookrunners. They are joined by several additional firms, including Evercore ISI, Mizuho, and Truist Securities.
The company and some of its shareholders have also granted underwriters the ability to purchase up to 2.4 million extra shares and an additional 103,652 shares from selling holders within 30 days of the offering.
Gemini noted in the filing that it qualifies as an “emerging growth company” under US securities law. This status allows the firm to report less information than larger public companies.
For example, the filing includes only two years of audited financial statements and skips over sections such as executive compensation details. The company also plans to continue using these exemptions going forward, as allowed by law.
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