Circle raises its IPO funding goal to $896M
The post Circle raises its IPO funding goal to $896M appeared on BitcoinEthereumNews.com.
Circle and its shareholders have increased the size and price of the company’s initial public offering, reflecting the apparent interest that investors have shown in owning a part of the USDC stablecoin issuer. According to a Monday filing with the SEC, the stablecoin issuer and some of its backers are now offering 32 million shares at a price range of $27 to $28 per share. Before, they planned to sell 24 million shares at a range of $24 to $26 each. Companies have shown strong interest in owning Circle stocks The sale of Circle’s stocks at the current price range could rake in as much as $896 million, handing Circle a market capitalization of nearly $6.2 billion. Taking into account employee stock options, restricted share units and warrants, the company would have a fully diluted value of about $7.2 billion. The IPO has drawn orders for stock in double-digit multiples of the shares available, people familiar with the matter have said, and there is still some time before the offering closes to orders at 4 PM New York time on Tuesday. Various companies have already shown interest in Circle stocks since the talk of the IPO went public. ARK Investment Management, a technology-focused firm founded by Cathie Wood, may reportedly buy as much as $150 million of shares, according to the filing. Meanwhile, BlackRock Inc. plans to acquire about 10% of the IPO shares. The IPO is being led by JPMorgan Chase & Co., Citigroup Inc. and Goldman Sachs & Co., and the deal is set to price on June 4, according to documents seen by Bloomberg News. The company will trade on the New York Stock Exchange under the symbol CRCL. The US IPO scene seeks an activity resurgence Circle’s decision to increase the funding goal for its upcoming…
Filed under: News - @ June 2, 2025 8:25 pm