Gemini Caps $425 Million IPO as Retail Shares Triple Allocation

- Demand for IPO exceeds supply 20 times. - Retail allocation triples to 30% of offered shares. Gemini Space Station Inc., a space infrastructure company supported by the Winklevoss twins, has finalized its $425 million initial public offering (IPO). Due to extraordinary investor demand, the IPO was oversubscribed 20 times. The company offered 16.7 million shares, which will account for 14% of its post-IPO equity. In response to the high demand, it increased the allocation for retail investors to 30% from an initial 10%. This move reflects Gemini’s effort to broaden its investor base while minimizing dilution for existing stakeholders. Gemini, which announced the IPO on September 11, 2025, will price its shares toward the upper end of the $24–$26 range, or potentially higher, given the heightened demand. Concurrently, Nasdaq has committed $50 million in a private placement, further strengthening the offering. Gemini shares are set to debut on the Nasdaq Global Select Market under the ticker “GEMI,” with both retail and institutional participants eagerly anticipating the launch date. Post-IPO, the Winklevoss twins will retain a commanding 94.5% of the company’s voting power, ensuring their long-term control over Gemini’s strategic direction.