BitGo launches IPO of 11.8 million shares priced at $15-17 each

Digital asset infrastructure company BitGo Holdings announced the launch of its initial public offering of 11,821,595 shares of Class A common stock. The company filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for the offering.

The offering includes 11 million shares from BitGo and 821,595 shares from existing stockholders. BitGo will not receive proceeds from the shares sold by existing stockholders. The company granted underwriters a 30-day option to purchase up to 1.77 million additional shares.

The initial public offering price is expected to range between $15 and $17 per share. BitGo has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol "BTGO."

Goldman Sachs serves as lead book-running manager for the offering, with Citigroup as book-running manager. Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe Bruyette & Woods, Canaccord Genuity and Cantor also serve as book-running managers. Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities and SoFi act as co-managers.

The registration statement has been filed with the SEC but has not yet become effective. Shares cannot be sold until the registration statement becomes effective, according to the company's announcement.

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