Far Peak Acquisition Corporation and Bullish Announce Filing of Registration Statement in Connection with their Proposed Business Combination

Rhea-AI Summary

Far Peak Acquisition Corporation (NYSE: FPAC) and Bullish have announced the public filing of a Registration Statement with the U.S. Securities and Exchange Commission for a proposed business combination. The deal is pending SEC approval, shareholder consent, and other customary conditions, with an anticipated closing in Q4 2021 or Q1 2022. Bullish aims to develop financial services for digital assets, supported by a strong exchange framework. The preliminary proxy statement provides detail on the companies involved in the transaction.

Positive

• Bullish's innovative financial services could enhance digital asset accessibility.
• The business combination may create synergies and expand market reach.

Negative

• Completion of the business combination is contingent on SEC approval and shareholder consent.
• There are potential risks and uncertainties that could disrupt the anticipated benefits of the business combination.

GEORGE TOWN, Cayman Islands--(BUSINESS WIRE)-- Far Peak Acquisition Corporation (NYSE: FPAC), a special purpose acquisition company, and Bullish, a company focused on technology and developing financial services for the digital assets sector, today announced that Bullish has publicly filed a Registration Statement (the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”) with respect to their proposed business combination.

The Registration Statement contains a preliminary proxy statement/prospectus with information about Far Peak, Bullish and the proposed business combination.

The business combination is subject to the Registration Statement being declared effective by the SEC, approval by Far Peak’s shareholders, and other customary conditions. Subject to the relevant conditions, the business combination is anticipated to close in the fourth quarter of 2021 or first quarter of 2022.

For more information, please visit Bullish Investor Relations.

About Bullish

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 regulated in Gibraltar.

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, Chief Executive Officer and President, and David W. Bonanno, the Company's Chief Financial Officer and Secretary. In addition, certain funds and accounts managed by subsidiaries of BlackRock, Inc. have made an anchor investment in the Company.

Forward-Looking Statements

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 to, 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 sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in the preliminary proxy statement/prospectuses included in the Registration Statement, as well as in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in FPAC’s IPO Prospectus dated December 2, 2020 filed with the SEC on, December 3, 2020, and the section entitled “Risk Factors” in FPAC’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2021. In addition, there may be additional risks that neither FPAC or Bullish Global presently know, or that FPAC 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 has filed with the SEC the Registration Statement, which contains a preliminary proxy statement/prospectus. A definitive proxy statement/prospectus will be mailed to FPAC shareholders as of a record date to be established for voting on the proposed Business Combination. FPAC shareholders and other interested persons are advised to read the preliminary proxy statement / prospectus and any amendments thereto, when available, and the definitive proxy statement / prospectus because these materials contain and will contain important information about Bullish, FPAC and the proposed transactions. Shareholders may obtain a copy of the preliminary proxy statement/prospectus and, when available, the definitive proxy statement/prospectus, 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 regarding 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 is set forth in the preliminary proxy statement/prospectus included in the Registration Statement. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211101005999/en/

Christina Pantin

media@bullish.com

investors@bullish.com

contact@farpeak.com

Source: Bullish and Far Peak Acquisition Corporation

FAQ

What is the proposed business combination between FPAC and Bullish?

The proposed business combination involves a merger between Far Peak Acquisition Corporation (FPAC) and Bullish, aimed at enhancing financial services in the digital asset sector.

When is the closing date anticipated for the FPAC and Bullish merger?

The business combination is expected to close in the fourth quarter of 2021 or the first quarter of 2022, subject to regulatory approval and shareholder vote.

What are the key benefits of the FPAC and Bullish transaction?

The merger aims to leverage Bullish's technology to improve market integrity and accessibility for digital assets.

What are the risks associated with the FPAC and Bullish merger?

Risks include the need for SEC approval, potential legal issues, and uncertainties that could affect the benefits expected from the merger.