Crypto exchange operator Bullish seeks to raise $629M in IPO
Bullish US LLC, the operator of an eponymous cryptocurrency exchange, has priced its upcoming initial public offering.
The Cayman Islands-based company, backed by investor Peter Thiel, originally filed for an IPO in mid-July without disclosing the financial terms. In an amended filing submitted today, Bullish revealed that it hopes to sell 20.3 million shares for $28 to $31 apiece. At the top end of the range, the offering would fetch $629 million and value the company at $4.2 billion.
The banks underwriting the listing have the option to buy 3 million more shares at the IPO price. That could potentially boost Bullish’s proceeds from the listing by $93 million. If investor demand for the IPO proves larger than initially…
