IN BRIEF: Augmentum closes higher as notes IPO of investee Gemini
Augmentum Fintech PLC - London-based investor focused on European private fintech companies - Notes initial public offering of New York-based cryptocurrency exchange and custodian bank Gemini Space Station Inc. Augmentum holds an equity interest representing 3.4% of Gemini's net asset value. Gemini began trading on September 12 on the Nasdaq Global Select Market under the ticker GEMI, priced at USD28 per share (valuing the business at around USD3.33 billion on a fully-diluted basis). The IPO was upsized following strong investor demand, which included significant participation from retail investors. Nasdaq has agreed to invest USD50 million in Gemini via a private placement and establish a strategic partnership across custody, staking and collateral management services. Augmentum's holding will be subject to a customary six-month post-IPO lock-up period. Read More