- 关注发展数字资产领域金融服务的科技公司Bullish宣布打算通过和特殊目的收购公司Far Peak Acquisition 公司(NYSE: FPAC)合并实现上市。
- Bullish和Far Peak在签署协议后，预期股价总价为90亿美元，合每股十美元，但双方交易时的合计股权预期按照届时加密资产价格进行调整。
- 净收益还包括信托中的6亿美元资金（假定未赎回）和3亿美元的EFM资产管理公司承诺最初注资投入的私募资金，同时还有来自BlackRock， Cryptology Asset Group 和 Galaxy Digital的资金投入。
关注发展数字资产领域金融服务的科技公司Bullish宣布打算通过和特殊目的收购公司（“SPAC”）Far Peak Acquisition 公司(NYSE: FPAC)合并实现上市。Bullish打算启动一个革命性的、受监管的加密货币交易所，为投资人提供深入、可预测的流量，让自己的数字资产产生利润。
Bullish和Far Peak在签署协议后，预期股价总价为90亿美元，合每股十美元，但双方交易时的合计股权预期按照届时加密资产价格进行调整。净收益还包括信托中的6亿美元资金（假定未赎回）和3亿美元的EFM资产管理公司承诺最初注资投入的私募资金(“PIPE”)，同时还有来自BlackRock， Cryptology Asset Group 、Galaxy Digital和其它几个知名机构投资者的资金投入。
交易预期在2021年年底完成交割，但需要获得Far Peak股东同意且符合其它惯例成交条件要求，包括符合监管要求。Bullish和Far Peak的董事会都一致通过该交易提议。
Far Peak这个SPAC团队专注帮助领先的金融和金融科技公司上市。Far Peak CEO和主席Thomas W. Farley先前担任纽约证券交易所主席，拥有15年掌舵世界级交易所的领导经验。交易完成后，Far Peak CEO Thomas W. Farley将担任Bullish CEO，而Block.one CEO Brendan Blumer将担任Bullish 主席。
“我们相信Bullish实时资产组合平衡工具、高可预期的流量、行业领先的安全性和合规性代表了新一代的交易所设计，它可以重新定义投资人交易和管理数字资产的方法。”Block.one CEO Brendan Blumer说。“我们很高兴能和Far Peak合作，带领Bullish上市，让我们的客户有机会获得我们业务的一部分。”
“Bullish代表了金融服务的美好未来。”Far Peak的主席和CEO Thomas W. Farley 说，“机构投资人和成熟的交易商对此的兴趣不断增强，这个背景下，对现有的交易所基础架构进行迭代就很重要了。Bullish顺应市场趋势，以技术创新未核心，它已经准备好用各种策略把自己的价值观传递给潜在的股东。我们还只处于加密货币市场发展的初期，我很高兴能够加入Bullish团队，我们能够共同利用领先的金融科技革新数字资产的未来。“
过去一年，Bullish获得Block.one注入的高达1亿美元的现金和16.4万比特币和2千万EOS的初始资金，并完成了先前宣布的3亿美元的战略投资轮。Bullish背后有多个高产投资人和风投领域的知名人物，其中就包括Peter Thiel的Thiel Capital and Founder Fund，Alan Howard, Louis Bacon，李泽楷，Christian Angermayer的 Apeiron 投资集团, Galaxy Digital和跨国投资银行野村银行。
富瑞集团担任Bullish独家金融顾问和资本市场顾问。凯易律师事务所担任其法律顾问。富瑞集团、摩根大通证券、野村证券国家、贝伦贝格资本市场和Galaxy Digital Partners共同担任Far Peak上市后的私募投资（PIPE）的共同销售代理。摩根路易斯事务所担任Far Peak的法律顾问，而宝维斯律师事务所担任Far Peak独立董事的法律顾问。瑞生国际事务所担任上市后私募投资配售代理机构的法律顾问。
获得更新多信息，请访问Bullish 投资人关系网站，其中包括一份Bullish业务介绍和关于Brendan Blumer及Thomas W. Farley的视频。
Far Peak Acquisition Corporation
关于 Far Peak Acquisition Corporation
Far Peak Acquisition Corporation成立目的是要实现兼并、换股、资产收购、股票收购、或在金融科技、科技或金融服务行业内重组或相似企业合并。公司由Far Peak LLC资助，而该公司的所有人是公司的主席和CEO Thomas W. Farley和公司首席金融官David W. Bonanno。此外，BlackRock管理的资金和账户业会对公司做锚定投资。
本文包括的“前瞻性声明”是在1995年《美国私人证券诉讼改革法案》中关于“安全港”条款定义下的声明，FPAC和Bullish Global代表时不时做出口头声明可能也可以被认定为该前瞻性声明。前瞻性声明一般指FPAC或Bullish未来财务或经营有关。某些情况下，你能通过诸如“可能”、“应该”、“预期”、“打算”、“将”、“估计”、“预估”、“相信”、“预测”、“潜在”或“继续”，或者这些词的同义词或变体或近义词来判断前瞻性声明。此外，这些前瞻性声明包括但不限于关于Bullish GLobal的经营策略、现金资源、现在和未来的产品或服务、以及可能的市场机遇。这样的前瞻性声明可能受到风险、不确定性和其它因素的影响，它们都可能导致实际的结果和前瞻性声明中表达或暗示的有巨大的差异。这些前瞻性声明是基于预期和假定的，尽管FPAC和其管理团队、Bullish Global及其管理团队都认为这些预期和假定合理，但本质上仍然是不确定的。可能导致实际结果和目前的预期产生巨大差异的情况包括但不限于：1）发生任何事件、变动或其他情况，最后导致企业合并最终协议终止；2）宣布企业合并后，针对FPAC， Bullish或Bullish Global或其它相关方的任何法律程序结果；3）因为未能获得FPAC股东的批准或未能满足其它成交条件，导致无法完成企业合并；4）因为使用法律和法规的原因，可能被要求修改或适当修改合并的拟定结构； 5）Bullish顺利完成合并后能够达到适用的上市标准的能力；6）因为宣布和完成企业并购，企业合并干扰了Bullish Global现在的计划和运营；7）是否有能力意识到企业并购的好处可能会受到竞争、合并后公司发展和管理实现盈利、和客户和供应商维持关系、维护其管理人员和主要员工等因素的影响；8）企业合并相关成本；9）使用的法律法规的变化；10）Bullish可能受到经济、企业和/或竞争因素的负面影响；11）新冠疫情对Bullish Global的业务和/或各方完成企业合并的能力的影响；12）其它在FPAC在2020年12月3日向美国证券交易委员会（简称“SEC”）提出申請的日期为2020年12月2日的IPO招股說明书中“风险因素”及“关于前瞻性说明的提示声明”项下和截至2021年3月31日FPAC的Form 10-Q季度报告中“风险因素”所列的风险和不确定性，以及该日期后提出申请的委託投票说明书/招股说明书中所包含的任何其他风险和不确定性。此外，还可能由一些风险Far Peak或Bullish Global目前不能预见，或Far Peak和Bullish Global目前认为不可能，但是未来这些因素也可能导致实际结果和前瞻性生命中的结果有差异。任何人均不能把本公告中的任何信息预判成在前瞻性说明或此类前瞻性申明的预期结果一定会实现。请不要过度依赖前瞻性声明，因为此类陈述仅反映信息发布之日的情况。FPAC、Bullish以及Bullish Global均不承擔对此类前瞻性声明进行更新的任何义务。
本文件未能涵盖提议的企业合并中应该包含的所有信息。它也不是证券销售和交易的要约，同时也不是证券购买或交易的要求确认。在任何司法管辖区内，或依照当地证券法规定，在等级或资格审批之前进行此类要约、销售或交易属于非法行为，则不能在此地销售任何此类证券。本文无意提供任何投资决定或任何关于本次企业合并相关的任何决定的基础。Bullish准备就拟定的本次合并向美国证券交易委员会（”SEC”）申请Form F-4登记表（简称“登记表”），其中将包括和企业合并有关的初步委托投票说明书/招股说明说。最终的委托投票说明书/招股说明书将在股权登记日之前邮寄到FPAC股东手上，以便其能对企业合并进行投票。我们建议PFAC股东和其他利益方在受到委托投票说明书/招股说明书及其修订内容，以及最终委托投票说明书/招股说明书后仔细阅读，因为本资料包括和Bullish,FPAC和拟定交易有关的重要信息，涉及到特别股东大会的代理权征求，以便审阅企业合并计划书中的各项交易。初步委托投票说明书/招股说明书和最终委托投票说明书/招股说明书发布后，股东可通过SEC网站http://sec.gov免费下载，或写信到Far Peak Acquisition Corp., 511 6th Ave #7342, New York, NY 10011索取免费副本。
- Bullish, a technology company focused on developing financial services for the digital assets sector, announced its intention to go public through a merger with Far Peak Acquisition Corporation (NYSE: FPAC), a special purpose acquisition company.
- Bullish plans to launch a revolutionary, regulated cryptocurrency exchange that offers deep, predictable liquidity for investors to generate yield from their digital assets.
- The business combination of Bullish and Far Peak has a pro forma equity value at signing of approximately US$9.0 billion at US$10 per share, to be adjusted at transaction closing based on crypto asset prices around that time.
- Proceeds include net cash in trust of approximately US$600 million (assuming no redemptions) and US$300 million of committed PIPE anchored by EFM Asset Management, with participation from funds and accounts managed by BlackRock, Cryptology Asset Group and Galaxy Digital.
Bullish, a technology company focused on developing financial services for the digital assets sector, announced it intends to go public on the New York Stock Exchange through a merger with Far Peak Acquisition Corporation (NYSE: FPAC), a special purpose acquisition company (“SPAC”). Bullish is preparing to release a revolutionary, regulated cryptocurrency exchange that offers deep, predictable liquidity with technology that enables retail and institutional investors to generate yield from their digital assets.
The business combination of Bullish and Far Peak has a pro forma equity value at signing of approximately US$9.0 billion at US$10 per share, to be adjusted at transaction closing based on crypto asset prices around that time. The proceeds include net cash in trust of approximately US$600 million (assuming no redemptions) and US$300 million of committed private investment in public equity (“PIPE”) anchored by EFM Asset Management, with participation from funds and accounts managed by BlackRock, Cryptology Asset Group, Galaxy Digital and several other renowned institutional investors.
The transaction is expected to close by the end of 2021 and is subject to approval by Far Peak stockholders and other customary closing conditions, including regulatory approvals. The Boards of Directors of both Bullish and Far Peak have unanimously approved the proposed transaction.
Far Peak is a SPAC team focused on bringing leading financial and fintech companies public. Far Peak CEO and Chairman Thomas W. Farley previously served as the President of the New York Stock Exchange, bringing 15 years of world-class exchange leadership. Upon completion of the transaction, Far Peak CEO Thomas W. Farley will become the CEO of Bullish and Block.one CEO Brendan Blumer will be appointed Chairman of Bullish.
Focused on innovative financial services, Bullish seeks to rewire the traditional exchange in order to benefit asset holders, enable traders, and increase market integrity. As mainstream institutions increasingly embrace digital currencies, Bullish aims to make this asset class more accessible and rewarding to investors while developing the next-generation infrastructure required to better suit their needs.
“We believe Bullish’s real-time portfolio balancing tools, deep predictable liquidity, and industry-leading security and compliance represent a new breed of exchange design and can redefine how investors trade and manage digital assets,” said Brendan Blumer, CEO of Block.one. “We are excited to be partnering with Far Peak to bring Bullish into the public markets to offer our customers the opportunity to own a part of our business.”
In the coming weeks, Bullish exchange will run a private pilot program leading up to its public launch anticipated later in 2021. In the pilot program, participants will be able to test and experience the platform first-hand within a simulated market environment, testing out Bullish exchange’s proprietary innovations, including the Bullish Hybrid Order Book and Liquidity Pools which are designed to provide deep and deterministic liquidity, along with a user-friendly trading experience underpinned by industry-grade security and auditability.
“Bullish represents a promising future for financial services,” said Thomas W. Farley, Chairman and CEO of Far Peak. “With the increased interest from institutional players and sophisticated traders, it is critical to iterate on the existing exchange infrastructures we see today. Bullish is well positioned to strategically deliver value to its prospective shareholders as it capitalizes on market trends and places technological innovation at the core of its identity. We’re only in the first or second inning of the cryptocurrency market and I’m thrilled to be joining the Bullish team as we revolutionize the future of digital assets through cutting edge financial technologies.”
During the past year, Bullish received an initial capital injection by Block.one of US$100 million and digital assets comprising of 164,000 BTC and 20 million EOS, and completed a previously announced US$300 million strategic investment round. Bullish is backed by a roster of prolific investors and leading names in the venture capital space including Peter Thiel’s Thiel Capital and Founders Fund, Alan Howard, Louis Bacon, Richard Li, Christian Angermayer’s Apeiron Investment Group, Galaxy Digital, and global investment bank Nomura.
Jefferies LLC is acting as exclusive financial advisor and capital markets advisor to Bullish. Kirkland & Ellis is acting as U.S. legal advisor to Bullish. Jefferies LLC, J.P. Morgan Securities LLC, Nomura Securities International, Inc., Berenberg Capital Markets LLC and Galaxy Digital Partners LLC are acting as co-placement agents to Far Peak on the PIPE. Morgan, Lewis & Bockius LLP is acting as legal advisor to Far Peak, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as legal advisor to Far Peak’s independent directors. Latham & Watkins LLP is acting as legal advisor to the placement agents on the PIPE.
Additional information is available on the Bullish Investor Relations website, including a presentation of Bullish’s business and a video featuring Brendan Blumer and Thomas W. Farley.
Far Peak Acquisition Corporation
Focused on developing products and services for the digital assets sector, Bullish has rewired the traditional exchange to benefit asset holders, enable traders and increase market integrity. Supported by the group’s treasury, Bullish’s new breed of exchange combines deep liquidity, automated market making and industry-leading security and compliance to increase the accessibility of digital assets for investors. Bullish exchange is operated by Bullish (GI) Limited and is expected to be fully regulated.
About Far Peak Acquisition Corporation
Far Peak Acquisition Corporation was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination in the financial technology, technology or financial services industries. The Company is sponsored by Far Peak LLC, which is ultimately owned by Thomas W. Farley, the Company’s Chairman and Chief Executive Officer, and David W. Bonanno, the Company’s Chief Financial Officer. In addition, funds and accounts managed by BlackRock have made an anchor investment in the Company.
Block.one is an asset holding and investment company that creates, incubates, and invests in businesses that build trust in transactions, transparency in systems and efficiency in how our world works. Through strategic capital allocation and pioneering business ventures, Block.one has funded more than 100 innovative entrepreneurs to date. Block.one group companies, Bullish and Voice, are empowering people to architect integrity across the financial services industry and social media ecosystem. Block.one is also the creator of EOSIO, a highly performant open-source blockchain software, built to support and operate safe, compliant, and predictable digital infrastructure.
Led by veterans of innovation, Block.one is backed by some of the most successful investors of our generation. For more information, please visit b1.com.
This communication includes, and oral statements made from time to time by representatives of FPAC and Bullish Global may be considered, “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or FPAC’s or Bullish’s future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. In addition, these forward-looking statements include, but are not limited, statements regarding Bullish Global’s business strategy, cash resources, current and prospective product or services, as well as the potential market opportunity. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by FPAC and its management, and Bullish Global and its management, as the case may be, are inherently uncertain. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the definitive agreements respecting the Business Combination; (2) the outcome of any legal proceedings that may be instituted against FPAC, Bullish or Bullish Global or others following the announcement of the Business Combination; (3) the inability to complete the Business Combination due to the failure to obtain approval of the shareholders of FPAC or to satisfy other conditions to closing; (4) changes to the proposed structure of the Business Combination that may be required or appropriate as a result of applicable laws or regulations; (5) the ability of Bullish to meet applicable listing standards following the consummation of the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations of Bullish Global as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that Bullish may be adversely affected by other economic, business and/or competitive factors; (11) the impact of COVID-19 on Bullish Global’s business and/or the ability of the parties to complete the Business Combination; and (12) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in FPAC’s IPO Prospectus dated December 2, 2020 filed with the Securities and Exchange Commission on December 3, 2020, the section entitled “Risk Factors” in FPAC’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2021, as well as any further risks and uncertainties to be contained in the proxy statement / prospectus filed after the date hereof. In addition, there may be additional risks that neither Far Peak or Bullish Global presently know, or that Far Peak or Bullish Global currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Nothing in this communication should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither FPAC, Bullish nor Bullish Global undertakes any duty to update these forward-looking statements.
Important Information and Where to Find It
This document does not contain all the information that should be considered concerning the proposed Business Combination. It does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. It is not intended to form the basis of any investment decision or any other decision in respect of the proposed Business Combination. In connection with the proposed Business Combination, Bullish intends to file with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form F-4 (the “Registration Statement”), which will include a preliminary proxy statement / prospectus with respect to the Business Combination. The definitive proxy statement / prospectus and other relevant documentation will be mailed to FPAC shareholders as of a record date to be established for purposes of voting on the Business Combination. FPAC shareholders and other interested persons are advised to read, when available, the preliminary proxy statement / prospectus and any amendments thereto, and the definitive proxy statement / prospectus in connection with the solicitation of proxies for the extraordinary general meeting to be held to approve the transactions contemplated by the proposed Business Combination because these materials will contain important information about Bullish, FPAC and the proposed transactions. Shareholders will also be able to obtain a copy of the preliminary proxy statement / prospectus and the definitive proxy statement / prospectus once they are available, without charge, at the SEC’s website at http://sec.gov or by directing a request to: Far Peak Acquisition Corp., 511 6th Ave #7342, New York, NY 10011.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.
Participants in the Solicitation
FPAC, Bullish, Bullish Global and their respective directors and executive officers, other members of management and employees may be considered participants in the solicitation of proxies with respect to the potential transaction described in this communication under the rules of the SEC. Information about the directors and executive officers of FPAC is set forth in FPAC’s IPO Prospectus dated December 2, 2020 filed with the Securities and Exchange Commission on December 3, 2020. Information regarding other persons who may, under the rules of the SEC, be deemed participants in the solicitation of the shareholders in connection with the potential transaction and a description of their interests will be set forth in the Registration Statement when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.
No Offer or Solicitation
This communication is for informational purpose only and not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Bullish or FPAC, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act.