BitGo Holdings has set the price for its upcoming initial public offering (IPO) at $18 per share, exceeding the earlier range of $15 to $17. The company anticipates that trading will commence on the New York Stock Exchange (NYSE) under the ticker symbol “BTGO” on Thursday, with the IPO closing on Friday, pending standard conditions.
The IPO involves a total of 11.8 million shares of Class A common stock, expected to yield approximately $212.8 million in gross proceeds. Among these, 795,230 shares are offered by existing shareholders. Notably, major stakeholders include CEO Michael Belshe, who holds significant amounts of both Class A and Class B shares.
Form-3 filings with the Securities and Exchange Commission (SEC) have been submitted by 13 BitGo stakeholders, revealing ownership details. While current leaders like Belshe and Chief Revenue Officer Fang Chen reported substantial holdings, some newly appointed directors disclosed no shares. The underwriters have also been granted a 30-day option to acquire up to 1,770,000 additional shares at the offering price.