Circle Internet, the developer of the USDC stablecoin, announced the submission of an official request for its IPO shares on the New York Stock Exchange under the trading code “CRCL”.
The company will offer 24 million Class A shares, including 9.6 million shares issued directly by Circle, and 14.4 million shares from selling shareholders.
The share price is expected to be between $24 and $26, which may allow the company to raise about $250 million, while the proceeds of selling shareholders may reach $375 million.
The company revealed that ARK Investment, a subsidiary of Cathy Wood, expressed interest in buying shares worth $150 million in the offering.
The subscription is managed by prominent financial institutions including JPMorgan, Citigroup and Goldman Sachs.
The move comes after previous incomplete attempts by “Circle” to offer its shares, most notably a failed attempt through SPAC in 2021.
In April, the company submitted a form S-1 to the US Securities and Exchange Commission, amid reports of a possible postponement of the subscription or consideration of a $5 billion sell option.
According to report, Coinbase and Ripple were among the parties interested in the potential acquisition of Circle, at a time when the latter is preparing to strengthen its position in the fast-growing stable currency market.$USDC
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