Crypto Platform Bullish Plans $629 Million IPO on New York Stock Exchange
Bullish, owner of the Bullish Exchange crypto platform, plans to raise up to $629 million in its IPO on the New York Stock Exchange. Key points include:
- Sale of 20.3 million ordinary shares priced at $28-$31 each.
- Trading under ticker “BLSH.”
- BlackRock and ARK Investment Management interested in purchasing up to $200 million in shares.
- Underwriters may buy an additional 3.045 million shares based on demand.
- IPO proceeds will be used for corporate purposes and potential acquisitions.
- Net income estimate of $106 million to $109 million for Q2.
- Reported a $349 million loss in Q1 after a profit of $80 million for all of 2024.
Bullish operates an institutional trading platform offering spot and derivatives trading and liquidity services.