Circle Files for IPO on New York Stock Exchange with 24 Million Shares

Circle Internet Financial has officially filed for its Initial Public Offering (IPO) on the New York Stock Exchange (NYSE), marking a significant step after previous attempts to go public.

IPO Details

• Offering of 24 million shares of Class A common stock
• 9.6 million shares directly offered by Circle, 14.4 million from selling stockholders
• 30-day option for underwriters to buy up to 3.6 million additional shares
• Proposed IPO price range is $24.00 to $26.00 per share
• Potential total raise of up to $250 million for Circle and approximately $375 million for selling stakeholders
• Ticker symbol: CRCL
• Completion of the IPO is subject to market conditions

Previous Attempts

• Circle previously sought to go public via SPAC Concord Acquisition but scrapped the plan due to regulatory issues
• The company submitted its draft registration statement to the SEC in January 2024
• CEO Jeremy emphasized Circle's financial strength and readiness for the IPO

Acquisition Rumors

• Circle rejected a $5 billion acquisition offer from Ripple Labs, citing it as undervaluing the company
• Speculation exists about Ripple possibly making a higher bid
• Circle confirmed it is not for sale