Stablecoin Issuer Circle Boosts IPO to $1.05 Billion

Circle Internet Group, Inc., the issuer of the USDC stablecoin, has once again increased the size of its impending initial public offering (IPO) to $1.05 billion, pricing its shares above the previously announced range. The announcement, made on June 4th, indicates the company intends to offer 34 million shares at a price of $31 each upon its debut on the New York Stock Exchange, scheduled for June 5th.

This marks a further upward revision from the initial proposal of offering 32 million shares at a price range of $27 to $28 per share, which itself was a significant increase from the original offering of 24 million shares priced between $24 and $26. Circle has also granted its underwriters a 30-day option to purchase an additional 5.1 million shares, demonstrating confidence in the market’s appetite for its stock.

Circle Boosts Its IPO Target

The new IPO price values Circle at $6.9 billion. This valuation is based on the over 220 million shares listed in a June 2nd filing. This value indicates the company’s strong position in the stablecoin market and its opportunity for growth.

According to the filing, Circle doesn’t plan to pay dividends to shareholders at this time. The company wants to “keep all the money it has and any future earnings to grow our business.”

Notably, BlackRock plans to acquire at least 10% of Circle upon its initial public offering. This significant investment demonstrates faith in Circle’s future and the growing prominence of stablecoins in the financial sector.

Moreover, with shares at $27, Circle thought it would get $319 million. This money was used for expenses such as paying $111 million in taxes, developing new products, expanding into new markets, and acquiring other companies.

Circle’s path to going public has had stops and changes. It initially filed for its IPO in April but halted the process due to market instability caused by President Trump’s tariff announcements, which negatively impacted the market and led to a pause in IPOs.

Initial IPO Boost

CoinTab reported on May 27th that Circle has announced it will proceed with its initial public offering (IPO). In a news release on Tuesday, the company announced that it will begin selling its stock on the New York Stock Exchange (NYSE).

In a document filed with the U.S. Securities and Exchange Commission (SEC), Circle stated that it aims to raise $624 million through its initial public offering (IPO) with plans to sell 24 million shares of its regular stock.

Additionally, the company will sell 9.6 million of these shares itself. The other 14.4 million shares will come from current shareholders, like investment companies Accel and General Catalyst.

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