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Nasdaq commits to buying $50M of Gemini stock ahead of IPO opening

Gemini (GEMI) said in a regulatory filing that, “This is the initial public offering of shares of Class A common stock of Gemini Space Station, Inc. We are offering 16,666,667 shares of our Class A common stock. Prior to this offering, there has been no public market for our Class A common stock. We anticipate that the initial public offering price per share of Class A common stock will be between $17.00 and $19.00. We have been approved to list our Class A common stock on the Nasdaq Global Select Market under the symbol ‘GEMI’.” Gemini also noted that Nasdaq (NDAQ) has entered into “an agreement with us pursuant to which it has agreed to purchase $50 million of our Class A common stock in a private placement at a per share price equal to the initial public offering price less underwriting discounts and commissions.”

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