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An announcement from crypto lender Celsius Network on Monday suggests that the company or its unit could be looking at a possible initial public offering.
Celsius said in a press release that its unit, Celsius Mining, filed a draft registration statement on a form S-1 with the Securities and Exchange Commission. The statement is confidential, for now.
A Form S-1 is usually indicative of a proposed initial public offering (IPO). Celsius’ announcement shows that the company may be planning an IPO for itself, or its mining unit.
The company said it will release more details by the end of Monday. But traders responded positively to the move.
Celsius’ token, CEL, jumped nearly 20% on the announcement, and is now trading around $0.8335.
