Circle fixed the price of its initial public offering at $31 per share, raising approximately $1.1 billion in an expanded operation that exceeded both the initial size and projections.

The offering values the stablecoin issuer at $6.9 billion based on the outstanding shares, with a fully diluted valuation of $8.1 billion including options and warrants.

The company and selling shareholders sold a total of 34 million shares, above the 32 million on Monday. Circle initially sought to sell 24 million shares at $24-$26.

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