BitGo Holdings, Inc. (“BitGo”), a digital asset infrastructure company, has announced the launch of its initial public offering (IPO). The offering includes 11,821,595 shares of Class A common stock, with 11,000,000 shares offered by BitGo and 821,595 shares by certain existing stockholders. BitGo will not receive proceeds from the sale of shares by the selling stockholders.
In connection with the offering, BitGo intends to grant the underwriters a 30-day option to purchase up to an additional 1,770,000 shares of Class A common stock. The initial public offering price is anticipated to be between $15 and $17 per share. BitGo has applied to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol “BTGO.”
Goldman Sachs & Co. LLC is serving as the lead book-running manager for the proposed offering, with Citigroup acting as a book-running manager. Additional book-running managers include Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods (a Stifel Company), Canaccord Genuity, and Cantor. Co-managers for the offering are Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities, and SoFi.
The proposed offering is being made pursuant to a registration statement on Form S-1 filed with the U.
S. Securities and Exchange Commission (SEC). This registration statement has been filed but has not yet become effective; shares of Class A common stock may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. The offering will only be made by means of a prospectus.
Founded in 2013, BitGo provides a range of digital asset services, including custody, wallets, staking, trading, financing, and settlement from regulated cold storage. The company states its focus is on accelerating the transition of the financial system to a digital asset economy. BitGo maintains a global presence with multiple regulated entities, serving thousands of institutions, including industry brands, exchanges, and platforms, as well as millions of investors.
