Crypto Exchange Bullish Seeks to Raise Up to $629M in New York Share Sale
Main Idea
Bullish, the owner of Bullish Exchange and CoinDesk, plans to raise up to $629 million through an IPO on the New York Stock Exchange, selling 20.3 million shares at $28-$31 per share.
Key Points
1. Bullish aims to sell 20.3 million ordinary shares at $28-$31 per share in its IPO, trading under the ticker 'BLSH'.
2. At the top end of the price range, the IPO could raise $629 million.
3. Funds managed by BlackRock and ARK Investment Management have expressed interest in buying up to $200 million worth of shares at the IPO price.
4. Underwriters have the option to purchase an additional 3.045 million shares, depending on demand.
5. The company estimates net income between $106 million and $109 million for the second quarter of 2025.
Description
Bullish, the owner of the Bullish Exchange crypto platform, said it plans to raise as much as $629 million in its initial public offering (IPO) on the New York Stock Exchange. The company, which also owns CoinDesk, said it plans to sell 20.3 million ordinary shares with an expected price of $28-$31 per share according to an an amended F-1 document filed with the Securities and Exchange Commission on Monday. It expects to trade under the ticker “BLSH.” Funds managed by BlackRock and ARK Investmen...
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