On February 13, Reuters reported that Clear Street, the underwriter for Strategy&, announced a postponement of its U.S. IPO, originally scheduled for Friday, citing unfavorable market conditions. Furthermore, the company significantly reduced its Nasdaq IPO fundraising target from the initial $1.05 billion to $364 million. Following the reduction, Clear Street's valuation is approximately $7.2 billion, compared to the previous target valuation of $11.8 billion.
Clear Street has become one of the leading underwriters for cryptocurrency-related stock offerings in recent years, providing underwriting services for numerous crypto treasury companies, including serving as the underwriter for Strategy's stock offerings multiple times, and also as the underwriter for Trump Media & Technology Group.
