Ionic Digital Set to Begin Nasdaq Trading on July 28

Ionic Digital expects its shares to begin trading on the Nasdaq Global Select Market on July 28 after the US Securities and Exchange Commission declared its registration statement effective, clearing the final major regulatory step for the company’s long-planned public debut.

The digital infrastructure operator will trade under the ticker “IOND,” according to a statement Monday. Ionic is pursuing a direct listing rather than a traditional initial public offering, meaning the company will not issue new shares or receive proceeds from the transaction. Instead, existing registered stockholders will be able to sell their shares on the public market.

The listing will provide a potential path to liquidity for Ionic shareholders, many of whom received their holdings through the bankruptcy restructuring of crypto lender Celsius Network. Ionic was formed to house bitcoin mining assets transferred from the Celsius estate and has since sought to reposition itself as a broader digital infrastructure company serving artificial intelligence and high-performance computing workloads.

Ionic initially filed its Form S-1 registration statement earlier this month. The company has raised about $400 million ahead of the listing to support its data center development and transition beyond bitcoin mining.

The company’s infrastructure portfolio includes its Cedarvale site in Ward County, Texas, where it has been developing additional capacity that could support both bitcoin mining and AI/HPC applications. Ionic has said it expects revenue from AI and other high-performance computing services eventually to surpass its bitcoin mining business.

The direct listing differs from a conventional IPO because Ionic will not set an offering price or use underwriters to sell newly issued shares. Its opening trading price will instead be established through Nasdaq’s order-matching process based on buy and sell interest from market participants.

Trading remains expected to begin July 28, subject to Nasdaq’s final listing requirements.