Circle (CRCL)Stablecoin’s firm firm behind the USDC token, announced On Tuesday a second stock sale of 10 million shares.
The company offers 2 million class a standard stock for sale, while selling stockholders removes another 8 million, according to a S-1 filing with the US Securities and Exchange Commission with (Sec). The underwriter Greenshoe option is for another 1.5 million shares.
Circle stock refused 6% to after trading time at $ 154. That dropped nearly 50% from a high record of $ 299, but still about five-fold from the IPO price of $ 31.
The offer was about two months after the Circle debut at the New York Stock Exchange, which saw its stock price skyrocket in the midst of investor’s appetite to gain exposure to the booming stablecoin market.
Earlier on Tuesday, the company reported $ 428 million loss for the second quarter of the year.
Read more: Circle Unveils Layer-1 Blockchain ARC, Report of $ 428 Million Loss of Q2
