Circle Internet Group Submits IPO Filing for NYSE Listing

Circle Internet Group, the issuer of stablecoin USDC, has filed for an initial public offering (IPO) on the New York Stock Exchange. Key details include:

• Offering 24 million class A shares: 9.6 million from Circle and 14.4 million from selling stakeholders.
• Expected IPO price range is $24 to $26 per share.
• Potential to raise up to $250 million for Circle and nearly $375 million for selling stakeholders at the higher price point.
• J.P. Morgan, Citigroup, and Goldman Sachs are joint lead bookrunners.
• Ticker symbol will be 'CRCL'.

Circle has attempted to go public for nearly four years. A previous SPAC deal in 2021 was unsuccessful. In April 2023, it filed an S-1 form with the SEC, but reports indicated a potential delay in the IPO. Recently, Circle considered a $5 billion acquisition by Coinbase or Ripple instead of proceeding with the IPO.