Winklevosses’ Crypto Exchange Gemini IPO Raises $425 Million (1)

Gemini Space Station Inc. raised $425 million in an initial public offering, pricing its stock above a marketed range and shrinking the number of shares.

The cryptocurrency firm led by the billionaire Winklevoss twins sold about 15.2 million shares Thursday for $28 each, it said in a statement confirming an earlier Bloomberg News report. The stock was marketed for $24 to $26 apiece.

The company told investors Thursday it expected to cap the base size of its double-digits-oversubscribed IPO at $425 million, Bloomberg reported earlier.

The IPO is one of four sizable deals expected to price on the same ...