Particle.news
Download on the App Store
16 ARTICLES
·
3w ago

Bullish Files for NYSE IPO to Raise $629 Million at $4.23 Billion Valuation

Bullish will list 20.3 million shares on the NYSE under ticker BLSH at $28 to $31 per share

Crypto exchange bullish seeks to raise up to $629m in new york share sale
Image
Peter Thiel-backed crypto exchange Bullish launches its IPO
Image

Overview

  • The $629.3 million offering is led by J.P. Morgan, Jefferies and Citigroup, whose underwriters have the option to purchase an additional 3.045 million shares.
  • Funds managed by BlackRock and ARK Investment Management have indicated non-binding interest for up to $200 million in shares at the IPO price.
  • Proceeds will fund general corporate purposes and strategic expansion, including plans to convert a significant portion into U.S. dollar-denominated stablecoins through token-issuer partnerships.
  • This marks Bullish’s second public listing attempt after a 2022 SPAC merger was called off amid regulatory hurdles.
  • The Cayman Islands-based exchange serves institutional clients with spot, derivatives and liquidity services and owns crypto news site CoinDesk.