Crypto Exchange Bullish Aims for $4.23B Valuation in IPO
The post Crypto Exchange Bullish Aims for $4.23B Valuation in IPO appeared on BitcoinEthereumNews.com. Crypto Exchange Bullish Aims for $4.23B Valuation in IPO Crypto exchange Bullish files for $4.23B IPO on NYSE, backed by Peter Thiel, amid rising institutional crypto interest and GENIUS Act boost. Bullish, a crypto exchange backed by billionaire investor Peter Thiel, has filed for an initial public offering (IPO) in the United States. According to Reuters, the company is expecting to raise as much as $629 million with a market valuation of $4.23 billion. It is the second time Bullish has tried to be listed in four years. Bullish Relaunches IPO Plan After 2022 SPAC Exit In the past, the exchange was used to plan a SPAC transaction with a valuation of $9 billion in 2021. In 2022, it cancelled the deal because of regulatory issues. The company is starting afresh now. It will issue 20.3 million shares at a price of between 28 and 31 dollars per share. In case the shares are sold at the upper end of this range, Bullish will achieve a large but reduced valuation compared to that which it had initially anticipated. Such an IPO occurs when the U.S. policy is getting friendlier to crypto innovation. Among the key contributors to this new push is the recent passage of the GENIUS Act. This legislation gives concrete rules to stablecoins and promotes healthy crypto development. Therefore, some companies, such as Bullish, find more opportunity in the public market. Bullish will have its shares listed on the New York Stock Exchange (NYSE) under the symbol BLSH. Bloomberg reports that the filing to the U.S. Securities and Exchange Commission (SEC) occurred on July 19. Such a move is indicative of the rising trust in the digital asset platforms and their place in the financial system at large. In addition to raising funds, Bullish would like to exchange…
The post Crypto Exchange Bullish Aims for $4.23B Valuation in IPO appeared on BitcoinEthereumNews.com.
Crypto Exchange Bullish Aims for $4.23B Valuation in IPO Crypto exchange Bullish files for $4.23B IPO on NYSE, backed by Peter Thiel, amid rising institutional crypto interest and GENIUS Act boost. Bullish, a crypto exchange backed by billionaire investor Peter Thiel, has filed for an initial public offering (IPO) in the United States. According to Reuters, the company is expecting to raise as much as $629 million with a market valuation of $4.23 billion. It is the second time Bullish has tried to be listed in four years. Bullish Relaunches IPO Plan After 2022 SPAC Exit In the past, the exchange was used to plan a SPAC transaction with a valuation of $9 billion in 2021. In 2022, it cancelled the deal because of regulatory issues. The company is starting afresh now. It will issue 20.3 million shares at a price of between 28 and 31 dollars per share. In case the shares are sold at the upper end of this range, Bullish will achieve a large but reduced valuation compared to that which it had initially anticipated. Such an IPO occurs when the U.S. policy is getting friendlier to crypto innovation. Among the key contributors to this new push is the recent passage of the GENIUS Act. This legislation gives concrete rules to stablecoins and promotes healthy crypto development. Therefore, some companies, such as Bullish, find more opportunity in the public market. Bullish will have its shares listed on the New York Stock Exchange (NYSE) under the symbol BLSH. Bloomberg reports that the filing to the U.S. Securities and Exchange Commission (SEC) occurred on July 19. Such a move is indicative of the rising trust in the digital asset platforms and their place in the financial system at large. In addition to raising funds, Bullish would like to exchange…
What's Your Reaction?
