Bitcoin miner Ionic Digital said its stock is expected to begin trading on the Nasdaq Global Select Market on July 28 after the U.S. Securities and Exchange Commission declared the company’s registration statement effective, removing the final major regulatory hurdle in its long-running path to the public market. The company said it will trade under the ticker IOND and will use a direct listing rather than a traditional initial public offering.
That structure means Ionic will not issue new shares and will not raise fresh capital through the listing itself. Instead, existing registered shareholders will be able to sell their holdings on the open market. Ionic was originally created to take over Bitcoin mining assets from the Celsius estate, but the company has since been repositioning itself as a broader digital infrastructure business serving artificial intelligence and high-performance computing workloads. Earlier this month, Ionic filed its initial Form S-1 registration statement. Before listing, it had already raised about $400 million to support data center construction and its shift beyond Bitcoin mining.
Bitcoin miner Ionic Digital expects its shares to begin trading on the Nasdaq Global Select Market on July 28, according to Theenergymag. The move follows the U.S. Securities and Exchange Commission’s decision to declare the company’s registration statement effective, clearing what Ionic described as the last major regulatory hurdle in its long-term listing plan.
In a company statement, Ionic said it will trade under the ticker “IOND.” The company chose a direct listing instead of a traditional initial public offering. As a result, Ionic will not issue new shares and will not receive proceeds from the market debut. Existing registered shareholders, however, will be able to sell their shares in the public market.
Listing structure and timing
Ionic said trading is expected to start on July 28 on the Nasdaq Global Select Market. With the SEC registration now effective, the company’s path to market has moved into its final stage.
From Celsius mining assets to digital infrastructure
Ionic was originally formed to take over Bitcoin mining assets from the Celsius estate. The company later began shifting its positioning, presenting itself as a broader digital infrastructure operator serving artificial intelligence, or AI, and high-performance computing, or HPC, workloads.
Capital raised before the listing
Earlier this month, Ionic filed its initial Form S-1 registration statement. Before going public, the company had already raised about $400 million to support data center construction and to fund its transition from Bitcoin mining into broader digital infrastructure businesses.
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