#BullishIPO Here’s a crisp ten-line summary of the Bullish IPO (Bulliah IPO) based on the most current and reliable reporting:
1. Company: Bullish is a cryptocurrency exchange operator that also owns the crypto media outlet CoinDesk.
2. IPO Pricing: The IPO was priced at $37 per share, surpassing the anticipated range of $32–$33.
3. Capital Raised: Bullish raised approximately $1.11 billion through the sale of 30 million shares.
4. Valuation at IPO: The offering valued the company at about $5.4 billion at pricing.
5. Debut Market Capitalization: Following its NYSE debut and early trading surge, Bullish’s market value nearly doubled to around $13.16 billion.
6. Opening Price & Gains: On its first trading day, Bullish opened around $90 per share, later soaring as high as $118, representing a gain of well over 150% from the IPO price.
7. End-of-Day Performance: Reports vary slightly—one notes an 89–90% gain (closing around $68), while others highlight the intraday peaks closer to $118.
8. Investor Backing: Institutional heavyweights like BlackRock and ARK Investment Management (Cathie Wood) committed significant buying—ARK reportedly purchased over 2.5 million shares.
9. Retail Allocation: Reports suggest retail investors received a notable allocation—possibly around 6 million shares, which is relatively high compared to typical IPOs.
10. Sector Impact: The standout debut reflects renewed investor enthusiasm for crypto firms entering public markets, buoyed by favorable regulatory developments and institutional interest.
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