Deals
Thiel-Backed Crypto Firm Bullish in $9 Billion SPAC Merger
- The deal includes $300 million PIPE anchored by EFM Asset
- The transaction is expected to close by the end of this year
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Bullish, which is preparing to launch a cryptocurrency exchange, has agreed to go public through a merger with special purpose acquisition company Far Peak Acquisition Corp.
The transaction will value the combined company at about $9 billion, which could be adjusted based on crypto asset prices at the close of the merger, according to a statement from Bullish on Friday. The deal includes a $300 million private investment in public entity, or PIPE, anchored by EFM Asset Management. Other investors include funds and accounts managed by BlackRock Inc., Cryptology Asset Group and Galaxy Digital.