Bullish pursues $600 million fundraising via IPO, targeting $4.2 billion company valuation

YM Lee

Summary

Bullish has announced plans to raise $600 million through an initial public offering (IPO).
The company revealed that it aims to list in the U.S. and offer 20.3 million shares, targeting a $4.23 billion company valuation.
An attempted SPAC merger listing in 2021 was canceled in 2022 due to regulatory barriers.

The cryptocurrency exchange Bullish plans to raise approximately $600 million through an initial public offering (IPO).

According to a Reuters report on the 4th (local time), Bullish aims for a company valuation of up to $4.23 billion through a U.S. listing. Bullish is pursuing an IPO to publicly offer a total of 20.3 million shares and raise up to $629.3 million.

Bullish previously attempted to go public via a SPAC merger with a target valuation of $9 billion in 2021, but canceled the merger listing plan in 2022 due to regulatory barriers.