By Kelly Cloonan
Ionic Digital filed to go public via a direct listing.
The company, which provides computing and data center infrastructure, expects to list up to 10.8 million shares, according to a filing with the Securities and Exchange Commission on Monday.
Ionic Digital applied to list its Class A common stock on the Nasdaq Global Select Market under the ticker IOND.
Unlike in a traditional initial public offering, the sale of Ionic Digital's shares aren't being underwritten by an investment bank.
Ionic Digital was formed in 2024 as a cryptocurrency mining company. It now specializes in leasing its digital infrastructure assets to hyperscalers and enterprise customers for high-performance computing and artificial intelligence cloud infrastructure.
The filing comes after the company said Friday it raised a $400 million investment round at a pre-money equity valuation of $2 billion. The round was led by Attestor, Oaktree Capital Management and Sachem Head Capital Management, with participation from Citadel and Weiss Asset Management, the company said.
Write to Kelly Cloonan at kelly.cloonan@wsj.com