Ionic Digital, the Bitcoin mining company that emerged from the wreckage of Celsius Network’s 2022 collapse, has filed to list its Class A common stock on the Nasdaq Global Select Market under the ticker “IOND.”
The listing will be a direct one, meaning no new shares are being issued and no capital is being raised. Those shareholders are former Celsius creditors who received Ionic Digital equity as part of the bankruptcy restructuring plan, and the direct listing gives them an exit without the company issuing new stock that would water down their ownership.
From bankruptcy to billion-dollar valuation
Celsius Network, once one of crypto’s largest lending platforms, filed for bankruptcy in July 2022 after freezing customer withdrawals. Ionic Digital formally emerged from the restructuring process on January 31, 2024, absorbing Celsius’s Bitcoin mining operations in the process.
The company is pursuing its Nasdaq listing through a Form 10 registration, registering its existing shares so they can trade on a public exchange without underwriters or new share issuance.
