Crypto
Ionic Digital's Nasdaq Debut Brings Liquidity to Celsius Creditors
Ionic Digital made its public market debut on Nasdaq on July 28, opening at $53 per share and climbing 9% by the close of its first trading session. The company's ticker is IOND.
From bankruptcy wreckage to a billion-dollar listing, Ionic Digital was formed in January 2024 from assets swept up in the restructuring of Celsius Network, which filed for Chapter 11 bankruptcy in July 2022. These assets included Bitcoin miners, real estate, cash, and approximately 540 BTC, which now reside in Ionic Digital's treasury.
The Nasdaq listing provides liquidity to former Celsius creditors who received IOND shares as part of the bankruptcy resolution. This direct listing structure meant no new capital was raised in the process.