key takeaways
- The purpose of Bulish is to increase $ 4.2 billion in its IPO to $ 629 million.
- The firm plans to convert IPO processes into stablecoins through partnership with tokeers.
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The Peter Theal-supported Crypto Exchange Bullish Yojana plans to increase its initial public offering (IPO) to $ 629 million, which targets valuations up to $ 4.2 billion, recognized for SEC filing on Monday, recognized for SEC filing.
The filing comes after the company, which instructs Crypto traders and owns the media outlet coindsk, which was formally filed for the US IPO with SEC last month.
Bully is offering 20.3 million shares under the tick “Blsh” on Nyse, with $ 28 to $ 31 each shared in the new filing Rande.
Blackrock’s funds and Arc Investment Management have indicated interest in buying $ 200 million shares at an IPO price, when they are not booking exposure commitments.
The company plans to convert an important part of the IPO processes into a US dollar-valuable stabecon through partnership with tokeers. The step comes as crypto companies, including the passing of the Genius Act, benefit from the reaction regulatory deviliation, which provides an initial framework for the stables.
This is the second attempt of Bulish to become public. The company earlier merged $ 9 billion with a special objective company (SPAC) in 2022, but the deal was increased to the adverse market condensation and regulatory investigation.
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