Peter Thiel-Backed Crypto Company Upsizes IPO, Targets Nearly $5 Billion Valuation
Posted On August 12, 2025
Cryptocurrency exchange Bullish increased the size and price of its upcoming initial public offering, according to a SEC filing on Monday.
The Details Of The New Offering
Bullish, backed by billionaire investor and entrepreneur Peter Thiel, will now offer 30 million shares priced between $32 and $33 each.
“We estimate that the net proceeds to us from this offering will be approximately $906.3 million, or $1,045.3 million if the underwriters exercise their option to purchase additional Ordinary Shares in full,” Bullish said, assuming the midpoint price of $32.50.
The company added that the total number of shares outstanding would go up to 139,528,739 after the offering, and 150,683,739 if the underwriters exercise their option. At the top of …
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