Circle Leaps Toward Wall Street with 24M-Share IPO

Stablecoin heavyweight Circle is opening a new chapter in its push for mainstream finance. The company, best known as the force behind USDC, just announced an initial public offering of 24,000,000 shares of Class A common stock. 

Out of that total, Circle itself will offer 9,600,000 shares, while existing stockholders will sell 14,400,000 shares.

There’s the usual 30-day option for underwriters to buy up to 3,600,000 extra shares if demand is hot. Circle’s looking at a share price between $24.00 and $26.00, though that’s not locked in. 

Listing is planned for the New York Stock Exchange under the ticker “CRCL.”

What’s behind this? Partly it’s Circle’s mission to expand USDC and its stablecoin operations, bridging old-school finance and digital assets. Going public in a big, formal way signals Circle’s readiness to cross the chasm. 

Of course, everything’s subject to market conditions - this is a big offering in a volatile environment. No one’s guaranteeing it’ll price or finalize exactly on schedule.

But the underwriter lineup is about as blue-chip as it gets, with J.P. Morgan (JPM), Citigroup (C), and Goldman Sachs (GS) leading the charge as active bookrunners, along with a handful of others: Barclays, Deutsche Bank, SocGen, BNY, etc. 

Keep in mind, the SEC’s still reviewing the registration statement. Nothing’s locked in until that statement becomes effective. Even if you’re itching to buy these shares, hold off; they’re not available yet, and certain states or jurisdictions might place restrictions on offering or selling them.

This listing under “CRCL” is Circle’s shot at a major equity raise, presumably fueling their stablecoin expansions and broader fintech ambitions. If it all clicks, USDC’s parent might graduate to some serious market exposure, giving traditional investors a new direct route into the stablecoin space.

Wall Street big wigs anticipate a listing in early Summer 2025 - so just around the corner. 

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