Bitcoin mining and AI infrastructure firm Ionic Digital has gone public on the Nasdaq Global Select Market through a direct listing.
The company’s Class A common stock began trading on July 28 under the ticker “IOND,” completing a listing process first announced last year.
Unlike a traditional initial public offering, the direct listing did not involve Ionic selling any new shares, meaning the company received no proceeds from the transaction.
Nasdaq set a reference price of $53 per share. Ionic opened at $50 before closing its first day at $62.90, an increase of almost 26 percent from the opening price. The closing price gave the company a market capitalization of approximately $2.8 billion.
“Today marks a defining moment in Ionic Digital’s journey as we complete our listing on Nasdaq,” said Andy Stewart, CEO of Ionic Digital.
