#IPO #StocksAnalysis
📰 Gemini has officially unveiled its plans to go public. The company filed its Form S-1 following a confidential draft in June 2025, revealing key figures:
📊 Revenue (6М 2025): $68.61 million
📉 Net loss (6М 2025): $282.48 million
💵 Adjusted EBITDA (6М 2025): $113.46 million
📍 Exchange: NASDAQ | Ticker: #GEMI
🤝 Underwriters: Goldman Sachs, Citi, Morgan Stanley, Cantor
🔎 Structure highlights:
🔹 Clients will be split between Gemini Trust (New York) and Moonbase (Florida).
🔹 In Florida, the platform will enjoy more flexibility due to the absence of strict BitLicense restrictions.
💲 Financial details:
🔹 In July, the company entered into a credit agreement with Ripple for a $75 million line in RLUSD stablecoin, expandable to $150 million. There have been no borrowings yet.
🔹 The target valuation for the IPO remains undisclosed.