Ionic Digital said its shares are expected to start trading on the Nasdaq Global Select Market on July 28 under the ticker IOND, after the U.S. Securities and Exchange Commission declared the company’s registration statement effective. The move clears what the company described as the last major regulatory hurdle in its long-running listing plan. Ionic is choosing a direct listing rather than a traditional initial public offering, meaning it will not issue new shares or raise fresh capital through the transaction. Instead, existing registered shareholders will be able to sell their holdings on the public market. The company was originally formed to take over Bitcoin mining assets tied to the Celsius estate, but has since been repositioning itself as a broader digital infrastructure business serving artificial intelligence and high-performance computing workloads. Ionic also said it filed its first Form S-1 registration statement earlier this month. Before the listing, the company had already raised about $400 million to support data center construction and help shift its business beyond Bitcoin mining.
Ionic Digital expects its shares to begin trading on the Nasdaq Global Select Market on July 28 under the ticker IOND.
The planned listing follows the U.S. Securities and Exchange Commission’s decision to declare the company’s registration statement effective, clearing what Ionic described as the final major regulatory obstacle in its long-term path to the public market. In a company statement, Ionic said it will go public through a direct listing instead of a traditional initial public offering.
That structure means the company will not issue new shares and will not receive financing proceeds from the transaction. Existing registered shareholders, rather than the company itself, will be able to sell their shares on the open market.
Ionic was originally created to take over Bitcoin mining assets from the Celsius estate. It later began repositioning itself as a broader digital infrastructure company focused on supporting artificial intelligence and high-performance computing, or HPC, workloads.
The company submitted its first Form S-1 registration statement earlier this month. Ahead of the listing, Ionic had already raised about $400 million to back data center construction and support its shift from Bitcoin mining to a broader digital infrastructure business.
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