IPO - Bullish

Form Type: F-1

Filing Date: 2025-07-18

Corporate Action: Ipo

Type: New

Accession Number: 000110465925069070

Filing Summary: Bullish is conducting its initial public offering of ordinary shares, with a nominal value of $0.001 per share. The anticipated offering price will be between a range that is not specified, with plans to list on the New York Stock Exchange under the symbol 'BLSH'. Bullish is registered as a foreign private issuer, therefore qualifying for reduced disclosure requirements. The proceeds from the offering will support operations within its subsidiaries located in various jurisdictions including the Cayman Islands, Hong Kong, the United States, and others. The company has established a Hong Kong entity for providing crucial digital asset exchange services but wishes to maintain geographical diversification. Regulatory risks associated with operations in China are highlighted, especially concerning currency controls and potential impacts on business operations due to evolving regulations. Bullish states it does not intend to provide services in mainland China and believes current laws will not materially affect its business.

Form Type: DRS/A

Filing Date: 2025-07-07

Corporate Action: Ipo

Type: New

Accession Number: 000110465925066168

Filing Summary: Bullish has submitted an amendment to its Registration Statement on Form F-1, marking its initial public offering (IPO). The company plans to offer ordinary shares, with an anticipated IPO price range still to be determined. The offering is aimed at institutional investors, reflecting the company's mission to provide digital asset trading infrastructure. Bullish's business model follows a regulatory compliance structure similar to traditional exchanges, focusing on their role as a premier institutional digital asset exchange. Their operations span multiple jurisdictions, particularly emphasizing regulatory clarity and market infrastructure necessary for institutional participation in digital assets. The company has laid out its strategy for facilitating institutional adoption of digital asset technology, with a diverse product suite and a substantial emphasis on risk management and compliance.

Form Type: DRS/A

Filing Date: 2025-06-18

Corporate Action: Ipo

Type: New

Accession Number: 000110465925060580

Filing Summary: On June 18, 2025, Bullish submitted its Amendment No. 4 to the confidential registration statement concerning its initial public offering (IPO). This document outlines Bullish's intention to offer ordinary shares with a nominal value of $0.001 per share, targeting at a price range that remains unspecified. The offering will take place as soon as the registration statement is effective. Bullish is categorized as a 'foreign private issuer,' eligible for reduced disclosure regulations. The company's share capital will consist solely of ordinary shares, each granting one vote. Bullish operates primarily through subsidiaries in various countries including Hong Kong, the US, and others, facilitating services like engineering, cybersecurity, and custody operations through its Hong Kong subsidiaries. The prospectus warns potential investors about risks associated with the Holding Foreign Companies Accountable Act (HFCAA) which may affect trading on U.S. markets due to auditing and inspection restrictions. Additionally, the document discusses operational risks linked to regulatory frameworks in Hong Kong and mainland China, particularly concerning digital assets and cybersecurity regulations.

Form Type: DRS/A

Filing Date: 2025-05-21

Corporate Action: Ipo

Type: New

Accession Number: 000110465925051558

Filing Summary: Bullish is preparing for its initial public offering (IPO) by filing a draft registration statement with the SEC as Amendment No. 3, emphasizing that the document contains strictly confidential information. The company, incorporated in the Cayman Islands, plans to sell ordinary shares at an anticipated price range, yet to be determined, and will seek to list these shares on the NYSE. Bullish operates primarily through subsidiaries in multiple jurisdictions, including Hong Kong and the United States, focusing on digital asset services. The document outlines the regulatory landscape, potential risks associated with doing business in both Hong Kong and mainland China, and specifies the organizational structure of the Bullish Group, including its operational strategies. The company aims to diversify geographically and reduce risk while maintaining sufficient liquidity for its operations. The document also highlights risks related to digital asset regulations and the potential impact of U.S. legislation on its ability to operate in U.S. markets, warning that failure to comply with regulation could lead to severe financial repercussions.

Form Type: DRS/A

Filing Date: 2025-02-28

Corporate Action: Ipo

Type: New

Accession Number: 000110465925018938

Filing Summary: Bullish is preparing for its initial public offering, as indicated in the confidential submission of its Form F-1 registration statement filed with the SEC. The company aims to sell ordinary shares with a nominal value of $0.001 each and intends to apply for a listing on the New York Stock Exchange under a yet-to-be-determined symbol. While financial statements from prior periods have been omitted based on the company's belief that they won't be required upon the filing's effectiveness, they plan to provide all necessary financial information in future amendments. The company also highlights that it is classified as a foreign private issuer, which allows for reduced public company disclosure obligations. Furthermore, discussions on their subsidiaries across various jurisdictions outline operational structures and regulatory considerations, particularly concerning digital asset trading amidst changing regulations.

Form Type: DRS/A

Filing Date: 2025-01-17

Corporate Action: Ipo

Type: New

Accession Number: 000110465925004416

Filing Summary: Bullish has submitted a confidential draft registration statement as Amendment No. 1 on January 17, 2025, under the Securities Act of 1933 to register its ordinary shares in connection with an initial public offering. The registration statement pertains to a proposed offering of ordinary shares at an initial price expected to be determined. The document indicates that Bullish is a foreign private issuer and outlines the company’s business operations primarily in the Cayman Islands, Hong Kong, and several other jurisdictions. Additionally, the document covers risks associated with the company's operations, including regulatory compliance in Hong Kong and mainland China, financial performance, service provider dependencies, and potential challenges under current and future regulatory environments. Bullish intends to apply for listing on the New York Stock Exchange under a symbol that is yet to be confirmed. Further details regarding the offering terms, including underwriters, were also discussed.

Form Type: DRS

Filing Date: 2024-08-30

Corporate Action: Ipo

Type: New

Accession Number: 000110465924095542

Filing Summary: Bullish is filing a draft registration statement for its initial public offering (IPO) under Form F-1 with the SEC on August 30, 2024. This document outlines that Bullish intends to offer ordinary shares with a nominal value of $0.001 per share. The expected price range for the offering has not been finalized. This IPO marks Bullish's entry into public trading, as the shares will be listed on the New York Stock Exchange. The company is based in the Cayman Islands and operates primarily through its subsidiaries located in various jurisdictions including Hong Kong, the United States, Singapore, and Gibraltar. The prospectus includes information on their operations, financial condition, and the regulatory environment, particularly focusing on compliance with licenses in Hong Kong for their exchange business. The filing highlights risks associated with foreign regulatory frameworks, particularly relating to potential implications from recent PRC regulations.