Ionic Digital Surges 26% on NASDAQ First Day, Celsius Network Creditors Gain Exit Route
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Ionic Digital Surges 26% on NASDAQ First Day, Celsius Network Creditors Gain Exit Route
According to CoinDesk, Bitcoin mining company Ionic Digital (Nasdaq: IOND), formed from the bankruptcy restructuring of Celsius Network, completed its direct listing on Nasdaq. The stock price surged 26% on the first day, with a market capitalization reaching approximately $2.8 billion, setting a record for the largest direct listing on Nasdaq since 2021. The stock opened at $50 and closed at $62.90, about 19% higher than the Nasdaq reference price of $53. The company was established in January 2024, acquiring Celsius mining assets through a court-approved restructuring plan, and issued 37 million shares of Class A common stock to Celsius creditors, providing them with an exit channel.
Navigating Web3 tides with focused insightsTechFlow News, July 29, according to CoinDesk, Bitcoin mining company Ionic Digital (NASDAQ: IOND), formed from the bankruptcy reorganization of Celsius Network, completed its direct listing on NASDAQ, with the stock price surging 26% on the first day and a market cap reaching approximately $2.8 billion, setting a record for the largest direct listing on NASDAQ since 2021.
The stock opened at $50 and closed at $62.90, approximately 19% higher than the NASDAQ reference price of $53. The company was established in January 2024, acquired Celsius mining assets through a court-approved reorganization plan, and issued 37 million shares of Class A common stock to Celsius creditors, providing them with an exit channel.
