CirleIPO

#CirleIPO Circle Internet Group, a global financial technology company known for the stablecoin USD Coin (USDC), has submitted plans for an Initial Public Offering (IPO) to the US Securities and Exchange Commission (SEC). Here are some updates regarding Circle's IPO:

- *IPO Funding Target*: Circle has raised its IPO funding target to $1.05 billion with a share price of $31 each, above the previously marketed price range.
- *Price Range*: Circle has updated the IPO price range to $27-$30 per share, up from the previous range of $24-$26.
- *Number of Shares*: Circle plans to offer 32 million Class A shares, with 12.8 million shares from Circle and 19.2 million from existing shareholders.
- *Valuation*: Circle's valuation in this IPO is estimated to reach $6.9 billion to $8.1 billion on a fully diluted basis.
- *Investors*: Several major investors such as BlackRock and ARK Invest have shown interest in purchasing shares of Circle in this IPO. BlackRock is expected to buy about 10% of the IPO allocation.
- *Use of Funds*: Proceeds from the IPO will be used for general corporate purposes, including working capital, operational costs, and capital expenditures.

With these developments, Circle's IPO becomes one of the largest crypto listings since Coinbase's debut in 2021. Circle also canceled its SPAC merger plans in 2022 that would have valued the company at $9 billion.