Bullish Set for IPO After Merger Deal
One of the popular crypto exchanges is Bullish. In a recent press release, it was notified that Bullish plans to go public after completing a merger deal. As per the reports from Jamie Crawley, Bullish is proceeding with a merger with Far Peak Acquisition, a SPAC in this case. Far Peak Acquisition is led by Thomas Farley, the former New York Exchange President. SPAC stands for Special Purpose Acquisition Company, and they are made of such deals. It should be noted that Thomas Farley will also be the CEO of the newly formed entity.
What is Crypto Bullish Spac 9bcrawleycoindesk ?
As per the timelines shared by the company, the merger deal should be completed by the end of 2021. This is when you will also see Bullish listed on the New York Stock Exchange. The ticker symbol for the company has not been finalized yet. Per share price of Bullish is going to be $10, and the company’s equity value is estimated to be at $9b. The final valuation will be confirmed during the deal closure and will be based on the value of the crypto that the organization is holding. Some experts even suggest that the deal price could shoot up to $12 billion, but that is very subjective.
Bullish has a major advantage as it is backed by some the investors like Peter Thiel, who is popularly known as a co-founder of PayPal. At the time of unveiling, it was notified that Bullish is a subsidiary of Block.one, and it was capitalized with approximately $10b in digital assets and cash. The capitalization also included 164k BTC. So Crypto Bullish Spac 9bcrawleycoindesk means Bullish Set for Public Listing Through $9B Merger With Ex-NYSE President’s SPAC
It is a common trend seen in the crypto companies that they merge with SPAC to go public. There are many examples of these companies, and we expect to see more mergers and IPOs in the future.