Crypto custodian BitGo targets $201 million raise in US IPO
Crypto custodian BitGo is aiming to raise approximately $201 million through an initial public offering in the U.S.Summary
Crypto custody startup BitGo has filed an amended registration statement with the SEC, revealing plans to raise about $201 million in a U.S. IPO. The plan involves offering 11 million shares of Class A common stock, with existing stockholders selling an additional 821,595 shares, at an estimated price between $15 and $17 per share. BitGo has applied to list on the NYSE under the ticker "BTGO." The company will maintain a dual-class share structure where CEO Michael Belshe's Class B holdings grant him majority voting power, classifying BitGo as a "controlled company." BitGo, which offers custody and settlement infrastructure to institutional clients, is pursuing the public listing amid stabilizing U.S. crypto regulatory conditions, having recently secured conditional approval for a banking charter.
(Source：The Block)