Ionic Digital’s Celsius bankruptcy shares debut on Nasdaq, $37 M blocked

Ionic Digital (ticker IOND) began trading on the Nasdaq with a direct listing that opened at $62.90 per share. The listing created a public market for existing Class A shares that were issued under the Celsius Network bankruptcy plan, but it did not raise new capital. Approximately 37 million of those shares, allocated to former Celsius creditors, remain blocked from immediate sale because they must first clear broker‑transfer procedures and satisfy securities‑law restrictions.

The shares were issued after Ionic acquired Celsius’ mining assets on Jan. 31, 2024, receiving no cash in exchange. Prior to the debut, Ionic reported about 82,000 recorded shareholders, excluding nominee holdings. A separate tranche of more than 10 million resale shares from a June 2026 private placement is subject to its own lock‑up rules. The Nasdaq opening price provides price discovery, but many creditors cannot liquidate their holdings until the administrative steps are completed.