#CircleIPO

Circle, the company behind the USDC stablecoin, has officially launched its initial public offering (IPO) on the New York Stock Exchange (NYSE) under the ticker symbol CRCL. Here's what you need to know:

- *IPO Details:*

- Circle aims to raise $896 million, with a valuation target of around $7.2 billion.

- The company plans to offer 32 million shares at a price range of $27 to $28 per share.

- This is an increase from the initial offering of 24 million shares priced between $24 and $26.

- *Use of Proceeds:*

- Circle may use the proceeds to expand globally, strengthen compliance, and develop new tokenized financial products.

- The company competes with Tether and other stablecoin issuers.

- *Lead Underwriters:*

- J.P. Morgan, Citigroup, and Goldman Sachs are the lead underwriters for Circle's IPO.

- *Background:*

- Circle's IPO comes four years after its failed special purpose acquisition company (SPAC) attempt in 2021.

- The company has been expanding its workforce, particularly in compliance and regulatory roles, to navigate the complex regulatory landscape.

By going public, Circle aims to position itself as a trusted financial infrastructure provider, leveraging transparency and regulatory compliance to build trust with institutional clients and enterprises.