What to know:
- Ah, the illustrious Circle Internet Group has graced us with the news of its IPO on the grand stage of the New York Stock Exchange.
- In a most generous gesture, the company is offering a staggering 24 million class A shares—9.6 million from its own coffers and a delightful 14.4 million from its esteemed stakeholders.
- These shares, dear reader, are expected to be priced between $24 and $26, and will waltz under the ticker ‘CRCL’.
Circle Internet Group, the mastermind behind the stablecoin USDC, has taken the bold step of filing for an initial public offering on the New York Stock Exchange, as announced on this fine Tuesday.
With a flourish, Circle presents 24 million of its class A shares, of which 9.6 million are being offered by the firm itself, while the remaining 14.4 million are being proffered by the ever-ambitious stakeholders. They also plan to bestow upon the underwriters a 30-day option to acquire up to 3.6 million shares—how generous!
The anticipated IPO price, a mere trifle between $24 and $26 per share, could see Circle raising nearly $250 million, while the stakeholders might find themselves with a delightful $375 million for their troubles. Oh, the sweet taste of success!
J.P. Morgan, Citigroup, and Goldman Sachs & Co. LLC, those titans of finance, are acting as the joint lead active bookrunners for this grand offering. The stablecoin behemoth will soon dance under the ticker ‘CRCL’.
Led by the ever-charismatic Jeremy Allaire, this firm has been attempting to step into the limelight for nearly four years. In 2021, they attempted to go public through a special purpose acquisition company (SPAC), but alas, that endeavor fell flat—much like a soufflé in a poorly heated oven.
In April, the firm filed an S-1 form with the Securities and Exchange Commission (SEC) to secure its place in the public eye. However, whispers of a delay in their IPO have since wafted through the air.
Just last week, Fortune reported that Circle was also contemplating a $5 billion sale instead of the IPO route. It seems that listed crypto exchange Coinbase (COIN) and payments firm Ripple, with its own RLUSD stablecoin, were among the suitors vying for this prize. Ah, the drama of finance!
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2025-05-27 15:30