Overview

• Bullish has kicked off its NYSE IPO roadshow, offering 20.3 million shares at a price range of $28 to $31 under the ticker BLSH.
• The exchange aims to raise up to $629 million, valuing the company at as much as $4.2 billion.
• Funds managed by BlackRock and ARK have expressed nonbinding interest in purchasing up to $200 million of shares at the IPO price.
• JPMorgan, Jefferies and Citigroup are leading the underwriting and hold an option to buy an additional 3.045 million shares.
• This marks Bullish’s second public listing attempt after a 2022 SPAC cancellation and includes a plan to deploy a large share of net proceeds into U.S. dollar–denominated stablecoins.