Circle Plans Secondary Offering of 10 Million Shares at $130 Each
Circle (CRCL) plans a secondary stock sale of 10 million shares at $130 each, significantly higher than the initial public offering price of $31 in June.
- The stablecoin issuer behind USDC will offer 2 million shares of Class A common stock.
- 8 million shares will come from existing shareholders.
- Proceeds will be used for general corporate purposes; Circle won't receive funds from the shareholder sale.
- CRCL shares debuted on the NYSE in June, closing at $83 after a 235% rise on the first day and hitting a record $298.99 on June 23.
- As of Thursday, CRCL closed at $139.23, down over 9%, with pre-market trading at $136.98.