The Circle, the USDC provided, the second largest stablecoin by market capitalization, launched a preliminary public (IPO) offering of 24 million sharing of Class A Common Stock, the company said on May 27.
The firm applied to list Class A Common Stock in the New York Stock Exchange (NYSE) under the Ticker CRCL symbol. As part of the offering, the Circle releases 9.6 million shares of Class A common stock, the company Says With a news release.
The remaining 14.4 million Shares of Class A Common Stock is offered by the sale of stockholders. The circle is also expected to give the underwriters a 30-day option to buy up to the additional 3.6 million shares of Class A standard stock to cover over-allotment.
The IPO involves participating from many major US investment banks, including JPMorgan, Citigroup and Goldman Sachs acting as a joint lead active bookrunners, the announcement added.
The offer will also feature the banks of Europe, including Barclays, Deutsche Bank Securities and Societe Generale acting as bookrunners.
IPO co-managers include BNY Capital Markets, Canaccord Genuity, Needham, Oppenheimer and Santander, while junior co-managers are represented by American Securities, Drexel Hamilton, Mischler Financial Group and Roberts and Ryan.
This is a story development, and further information will be added as it is available.
