US EditionCrypto Exchange Bullish Seeks to Raise $629M in New York Share Sale
UNITED STATES, AUG 4 – Bullish aims to raise $629 million in its IPO with plans to convert much of the proceeds into U.S. dollar stablecoins amid favorable regulatory shifts, targeting a $4.2 billion valuation.
- On Monday, Bullish filed its amended F-1 with the SEC to launch its IPO, aiming to raise up to $629 million at a $4.23 billion valuation.
- After scrapping its SPAC deal in 2021 due to regulatory uncertainty, the company benefits from friendly policymaking like the recently passed GENIUS Act for stablecoin regulation.
- Underwriters led by J.P. Morgan, Jefferies and Citigroup, Bullish plans to offer 20.3 million shares at $28 to $31, aiming to raise up to $629 million.
- Funds managed by BlackRock and ARK Investment Management have expressed interest, and if the IPO proceeds as planned, Bullish will trade on the NYSE under BLSH.
- Future implications include Bullish’s second IPO attempt, with plans to convert a significant portion of proceeds into U.S.-dollar denominated stablecoins with token issuers' assistance.
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Peter Thiel-Backed Bullish Seeks $4.2 Billion Valuation for IPO
Bullish, a crypto exchange backed by prominent venture investor Peter Thiel, is seeking a $4.23 billion valuation at its proposed U.S. initial public offering (IPO). The firm revealed its valuation target in an amended F-1 filing on Monday, sharing plans to raise $629.3 million by offering 20.3 million shares priced between $28 and $31 each. This is Bullish’s second attempt to go public, after a 2021 IPO attempt targeting a $9 billion valuation …
Peter Thiel-backed crypto startup Bullish eyes $4.2B NYSE IPO amid stablecoin surge - Tech Startups
Crypto exchange Bullish is giving the public markets another shot. Backed by billionaire Peter Thiel, the startup is aiming for a valuation of up to $4.23 billion as it kicks off its U.S. listing process, according to a filing made […] The post Peter Thiel-backed crypto startup Bullish eyes $4.2B NYSE IPO amid stablecoin surge first appeared on Tech Startups.
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