💙 Are you a DApp? We are helping DApps reach out to more users with our promotion service Contact us now!
2021-07-19


Bullish SPAC is Extremely Appealing to High-Profile Investors

bullish-spac-extremely-appealing-to-high-profile-investors

High-profile investors get exposure to the crypto market via the Bullish SPAC. Recently SoftBank Northstar decided to invest $75 million via a $300 million private offering organized by Bullish during the past week.

SoftBank Northstar is SoftBank's asset management arm, and is also known as the "Nasdaq whale" after it made multi-billion wagers on publicly traded tech stocks.At the moment SoftBank has not yet made any big investments on the crypto sector, except recently its Latin American Fund invested $200 million in the Brazilian digital assets platform: Mercado Bitcoin.

The Far Peak and Bullish SPAC is very attractive to high-profile investors, as it allows to buy warrants from either the sponsors of the SPAC or its anchor investors including BlackRock Inc. If the warrants are sold below cost, the seller will take a $1.5 million loss. The attraction of this strategy has been confirmed by James Cassel, chairman of Cassel Salpeter & Co., a Miami-based investment bank that advises on SPACs.

“SoftBank has said ‘you can use my name and it will validate the deal and make all of the stock worth a lot more,’” - James Cassel


Sources:

Suggested News