Circle Boosts Financial Strategy with Ambitious Stock Offering
Main Idea
Circle, a U.S.-based stablecoin issuer, has quadrupled its initial stock offering price since June and filed with the SEC, with proceeds not going back to the company but benefiting existing shareholders.
Key Points
1. Circle's shares initially priced at $31 and surged 235% to $83 on the first trading day in June, reaching a record high later.
2. The company filed with the SEC, clarifying that proceeds from shares sold by existing shareholders will not be transferred to the company.
3. On the last trading day, CRCL shares fell over 9% to $139.23, with a further 1.63% decline in pre-market trading.
4. Circle's sale of 2 million shares is expected to financially bolster the company, though market volatility remains a concern.
5. Experts highlight the financial benefits of the share sale but advise caution due to market risks.
Description
Circle plans a secondary public offering of 10 million shares at $130 each. Proceeds from Circle's shares will support corporate strategies, not benefiting other shareholders. Continue Reading: Circle Boosts Financial Strategy with Ambitious Stock Offering The post Circle Boosts Financial Strategy with Ambitious Stock Offering appeared first on COINTURK NEWS .
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