#CircleIPO

Circle IPO priced above range at $31 per share ahead of NYSE debut

Reports say BlackRock was willing to buy approximately 10% of the shares awarded for the deal.

Circle has priced its initial public offering at $31 per share, above the original range, ahead of the NYSE debut on June 5.

As outlined in a June 4 report from Reuters, the stablecoin issuer priced its public offering for $1.05 billion when selling 34 million shares, valuing the company at approximately $8 billion on a fully diluted basis. The Circle IPO had been expected to price in the $27 to $28 range, but upper-tier demand pushed the price and share count higher.

Circle originally targeted $624 million by selling 24 million shares; they then modified to the 34 million shares; as the number of interest grew the confidence rose.

Circle, founded in 2013, is the issuer of USD Coin usdc -0.01% USDC, the world's second-largest stablecoin by market cap with over $61 billion in circulation. Circle has attempted the public markets twice before, once in the form of an SPAC in 2021 and again earlier this year, before pausing because of the market uncertainty that was introduced as President Trump redefined the trade policies impacting China.