Stablecoin Giant Circle Files To Public In NYSE, May Raise nearly $ 250m from IPO
Circle Internet Group, the firm behind Stablecoin USDC, has filed for a preliminary public offer at the New York Stock Exchange, the firm said on Tuesday.
The circle offers 24 million of its Class A shares, of which 9.6 million are offered by the firm, while 14.4 million distributors are offered by the sale of stakeholders. It is also expected to give the underwriters a 30-day option to buy up to 3.6 million shares.
The IPO price is expected to be between $ 24 and $ 26 per part. Based on the higher end of the range, the circle could raise nearly $ 250 million, while sellers of stakeholders could get about $ 375 million for their stake.
JP Morgan, Citigroup, and Goldman Sachs & Co LLC act as joint lead active bookrunners for offering. The giant Stablecoin is a merchant under the ticker ‘CRCL. “
The firm led by Jeremy Allaire has been trying to go public for almost 4 years. In 2021, Circle tried to go public through a special objective company (spac), which eventually fell.
In April, the firm filed for an S-1 form with the Securities and Exchange Commission (SEC) to list. However, it was later reported that the USDC-issue was looking to delay its IPO.
Last week, Fortune reported Circle also researched a $ 5 billion sale Instead of going through the IPO route. It is also reported that the listed Crypto Exchange Coinbase (COIN) and Ripple firm, which also has RLUSD Stablecoin, is among the suitors.
Read more: The Circle explored the potential sale of $ 5B to Coinbase or Ripple instead of IPO: Report
Update (May 27, 11:47 UTC): Adds additional details to Circle’s IPO history.
