Bully is making significant progress towards its public offering (IPO), targeting a crypto exclusion, a crypto exclusion supported by the billionaire enterprise capitalist Peter Thial, a valuation of up to $ 4.23 billion.
The step comes as a change in the regulatory conditions of experts under President Donald Trump’s Pro-Cripto administration. This change has been bolt by tributaries, such as recently posted Talented actWhich paves the way to create a global hub for crypto to the United States.
Stabelcoin conversion strategy
In its latest filing, Bulish announced a plan to raise about $ 629.3 million by offering 20.3 million shares between $ 28 and $ 31 3. It marks the company’s second attempt to go publicly in four years, after an attempt to merge the last blank-check merger in 2021 which was eventually scripted due to the regulator challenge.
According to a recent Reute ReportIn the upper part of its proposed Prime, the evaluation of the Crypto Exchange will represent more than 52% discount for its Earlian $ 9 billion.
Matt Kennedy, a senior strategist at Renaissance Capital, not explaining the IPO marketing process, bankers usually prefer to set conservative values, which allow the ignition upwards rather than overshooting the risk and require reduction of prices.
In his filing, Bulish indicated a plan to convert a vital part of the IPO processes into US-Doller-Denominated Stabelin to facilitate one or motor dollar-peged cryptocurrencie to facilitate this infection.
This strategy aligns with the increasing speed of digital assets, especially after circle internet Compete On the New York Stock Exchange (NYSE), where it now trades at 400% $ 164 of its initial IPO price.
Crypto Exchange reports $ 349 million loss between IPO schemes
Bulish targets instant investors mainly as a crypto-triding platform. The company is headed by Thomas Farley, who previously performed the President’s role in the New York Stock Exchange.
In addition to its exchange operation, Bulish also owns a Crypto news website Coindesk, which he has acquired from Barry Silbert Digital currency group (DCG) Back in 2023.
Despite his ambitious plans, Bulish reported a $ 349 million for the quarter ended March 31, a Stark Contist for a benefit of $ 105 million posted last year.
According to the report, the company aims to list on NYSE under the ticker symbol “BLSH” with JP Morgan, Jafferjee and Citigroup Sering. Chief underworter For the initial public offering.
The announcement follows a series of tricks in the Crypto sector, including Mike Novograte’s Galaxy Digital, which began trading on Nasdaq, which recently confidentially filed for the US IPO.
Specially displayed image from Dall-E, chart from traudingView.com
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