Bullish, a cryptocurrency exchange backed by Peter Thiel, has increased the size and price of its initial public offering (IPO), aiming to raise up to $990 million by selling 30 million shares at $32 to $33 each. This upsizing boosts the company's valuation to approximately $4.8 billion, up from an earlier target of $629 million. The IPO is being underwritten by JPMorgan, Jefferies, and Citigroup. Bullish previously planned to go public through a $9 billion SPAC deal, which was canceled in 2022. The IPO has been reported as well oversubscribed, with demand exceeding supply by more than 20 times, and the company is set to stop taking pre-IPO orders by 4 PM on Monday. Bullish is preparing for a high-profile listing on NASDAQ under the ticker symbol BLSH amid a competitive market for crypto exchanges.
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Bullish is going public with fresh capital, a growing exchange, and a high-profile listing. But its clean start comes at a time when the market is crowded https://t.co/dgWlagVi5c
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