Italian software company Bending Spoons closed its first day on the NASDAQ up nearly 40%. Shares ended at $40.50, well above the $29 offering price, giving the firm a market capitalization of approximately $25.7 billion.
The company, known for acquiring and optimizing underperforming tech brands like Evernote and Vimeo, raised $1.68 billion in its IPO. It is led by CEO Luca Ferrari.
Bending Spoons has also launched tokenized versions of its shares, labeled BSPx, on platforms including Kraken and Backed.fi. These instruments provide indirect exposure to the stock price for crypto-native investors.
The first-day surge was notable, though shares fell 6% in pre-market trading the following session.