Circle to Offer 10 Million Class A Shares at $130 Each
Main Idea
Circle plans to offer 10 million Class A shares at $130 each, a price more than quadruple its June IPO price of $31, as disclosed in a recent SEC filing.
Key Points
1. Circle's share price of $130 is significantly higher than its initial IPO price of $31 in June.
2. The shares debuted on the New York Stock Exchange in early June and saw a 235% rise on the first day, closing at $83.
3. The stock reached a record high of $298.99 on June 23 but closed at $139.23 on Thursday, a 9% drop for the day.
4. Pre-market trading showed CRCL shares down 1.63% at $136.98.
5. Circle's Chief Strategy Officer Dante Disparte and CEO Jeremy Allaire are mentioned in the context of the share offering.
Description
Circle (CRCL) plans to offer 10 million shares in a secondary stock sale priced at $130 per share , more than four times to price of its initial public offering in June. The stablecoin issuer behind the USDC token is itself offering 2 million shares of Class A common stock, it said in a Tuesday filing with the U.S. Securities and Exchange Commission (SEC). Existing shareholders putting up the other 8 million. The company will use the proceeds from the sale of its shares for general corporate pur...
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