Ionic Digital shares climbed about 26% from their opening price in their Nasdaq debut Tuesday after the Celsius-linked Bitcoin miner and AI infrastructure company completed its direct listing.<\/p>\n
The shares opened at $50 and closed at $62.90, giving Ionic a market capitalization of about $2.8 billion based on approximately 44.9 million shares outstanding, according to its registration statement filed<\/a> with the US Securities and Exchange Commission.<\/p>\n Ionic was formed in 2024 to acquire Celsius Mining\u2019s assets through the bankrupt crypto lender\u2019s restructuring and has since expanded into AI and high-performance computing infrastructure.<\/p>\n IPO research firm Renaissance Capital said<\/a> Ionic\u2019s $2.4 billion implied market value at Nasdaq\u2019s $53 reference price made it the largest US direct listing since 2021.<\/p>\n The stock pared some of its gains after the closing bell, falling 6.5% to $58.80 in after-hours trading, according to Yahoo Finance<\/a>.<\/p>\n Related: <\/strong><\/em>Celsius-linked Bitcoin miner Ionic Digital seeks Nasdaq direct listing amid AI pivot<\/strong><\/em><\/a><\/p>\n