Circle Dips 6% After Hours on 10M Share Secondary Offering
Main Idea
Circle's stock fell 6% in after-hours trading following the announcement of a 10 million share secondary offering, coming two months after its IPO, alongside reporting a $428 million loss for Q2.
Key Points
1. Circle announced a secondary offering of 10 million shares, including 2 million Class A common stock and 8 million from selling stockholders, with an underwriter greenshoe option for 1.5 million more shares.
2. The stock dropped 6% in after-hours trading to $154, nearly 50% below its record high of $299 but still up five-fold from its IPO price.
3. Circle reported a $428 million loss for the second quarter of 2025.
4. The offering follows Circle's recent debut on the New York Stock Exchange, aimed at gaining exposure to the stablecoin market.
Description
Circle (CRCL), the stablecoin issuer firm behind the USDC token, announced on Tuesday a secondary stock sale of 10 million shares. The company is offering 2 million of Class A common stock for sale, while selling stockholders are unloading another 8 million, according to an S-1 filing with the U.S. Securities and Exchange Commission (SEC). The underwriter greenshoe option is for another 1.5 million shares. Circle's stock declined 6% in after hours trading to $154. That's down nearly 50% from the...
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