Ionic Digital began trading on Nasdaq on July 28 under the ticker IOND via a direct listing without raising new capital. The company issued 37 million Class A shares to former approved Celsius Network creditors as part of the bankruptcy plan. IOND closed its first session at $62.90 with approximately 1.58 million shares of volume. Some holders cannot sell immediately due to securities law restrictions and the need to transfer shares from Odyssey Transfer and Trust Company to a brokerage account. The listing created a real exit route for creditor-linked equity, but not a universal same-day cash-out.
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