CIRCLE FILES FOR IPO ON NYSE WITH TICKER “CRCL”

- According to Coindesk, @Circle has officially filed for an Initial Public Offering (IPO) on the New York Stock Exchange.

- The IPO filing confirms that Circle will offer 24 million Class A shares, with 9.6 million shares being issued directly by the company and 14.4 million shares being offered by current stakeholders.

Key Details:

- The price range for the IPO is expected to fall between $24 and $26 per share. This means Circle could raise nearly $250 million in fresh capital, while stakeholders could walk away with around $375 million.

- The shares will trade under the ticker symbol “CRCL,” and top investment firms, including J.P. Morgan, Citigroup, and Goldman Sachs, act as lead active bookrunners for the offering.

- The Jeremy Allaire-led firm has spent close to four years attempting to go public. A previous attempt in 2021 via a SPAC (special purpose acquisition company) deal fell through, delaying its entry into the public market.

- In April 2024, Circle filed a new S-1 form with the U.S. Securities and Exchange Commission to pursue the IPO route. However, reports later suggested the firm considered postponing the offering and even entertained a potential $5 billion acquisition offer.

- The move to finally list on the NYSE underlines Circle’s determination to cement its position in the U.S. financial system, especially as stablecoins like $USDC continue to gain traction in mainstream finance and payments infrastructure.

Image obtained from X