Crypto Exchange Bullish Increases IPO Size Ahead of Wednesday Trading Debut
Bullish, the Peter Thiel-backed cryptocurrency exchange led by former New York Stock Exchange president Tom Farley, has expanded its initial public offering amid strong investor appetite for digital asset companies.
The company now plans to sell 30 million shares priced between $32 and $33 each, targeting up to $990 million in proceeds and a valuation approaching $5 billion, according to an updated SEC filing on Monday. This marks a significant increase from its initial proposal of 20.3 million shares at $28 to $31 per share.
Bloomberg reported that the IPO is over 20 times oversubscribed.
BlackRock and Cathie Wood’s ARK Investment Management have expressed interest in purchasing up to $200 million worth of shares at the IPO price,…
