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The encryption trading platform Bullish will be listed on the New York Stock Exchange today.
On August 13, the crypto trading platform Bullish, backed by billionaire Peter Thiel, will be listed on the New York Stock Exchange under the ticker BLSH. The company stated in regulatory filings submitted on August 4 that it will sell 20.3 million shares at a price of $28 to $31 per share, raising up to $629.3 million. In addition, underwriters have 30 days from the date of the prospectus to purchase an additional 3.045 million shares. On August 11, Bullish expanded its IPO size, now targeting a valuation of up to $4.82 billion, significantly higher than the previous week’s target of $4.2 billion. The new plan intends to sell 30 million shares at a price of $32 to $33 per share. At the highest price point, Bullish could raise approximately $990 million. Bullish was launched in 2020 by Block.one (the blockchain company behind EOS), and BlackRock and Cathie Wood's ARK have expressed plans to purchase $200 million in shares. In terms of assets, Bullish pointed out in its filing that the company currently holds over $3 billion in liquidity assets, which includes: 24,000 BTC, 12,600 ETH, and $418 million in cash and stablecoins. The company operates a digital asset trading platform and owns the well-known crypto media outlet CoinDesk.