The Crypto Exchange Bullish has raised the size of the public’s initial offering to $ 990 million from $ 629 million, as the company seems to take advantage of a hot market for crypto companies.
CoinDesk is a subsidiary of bullish.
According to a File At the Securities and Exchange Commission on Monday, Bullish aims to sell 30 million shares of $ 32 to $ 33 each, or $ 990 million and an appreciation of $ 4.8 billion at the top of the range.
In a previous filing on August 4, the company has Plan To sell 20.3 million shares at $ 28 to $ 31 each, or about $ 629 million and a $ 4.2 billion appreciation at the top of the range.
Bullish is one of many crypto companies hoping to take advantage of an emerging IPO market in space as the industry begins to earn from a clearer framework of regulation and investor’s interests, not to mention the higher price of late for the leading cryptocurrencies such as Bitcoin and Ether.
Stablecoin Issuer Circle (CRCL) belonged to the first to go public in June and saw Skyrocket’s price sharing 93% ever since.
In an earlier SEC filing, Bullish revealed that funds managed by Blackrock and Ark Investment Management expressed interest in buying $ 200 million worth of company sharing IPO price.
The company, a merchant under the ticker “BLSH” also revealed that it posted an estimate of net revenue of $ 106 million to $ 109 million for the second quarter after reporting losses for the first quarter and fourth quarter of 2024.
