The time has come for another highly anticipated arrival on the New York Stock Exchange (NYSE). Circle Internet Group, a stablecoin provider, is making its initial public offering today for $31 a share. Here’s everything you need to know about Circle’s IPO.
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What is Circle?
New York-based Circle, led by CEO Jeremy Allaire, is the issuer of USDC, a stablecoin tied to the U.S. dollar and the second-largest stablecoin globally. Circle also offers EURC, a stablecoin tied to the Euro.
When is Circle’s IPO?
Circle set its share prices on Wednesday and plans to list its stock today, Thursday, June 5. The offer is expected to close the following day, Friday, June 6.
What is Circle’s stock ticker?
Circle will trade its stock under the ticker CRCL.
Which exchange will Circle’s shares trade on?
Circle will trade its shares on the NYSE.
What is the IPO share price of Circle?
Circle’s share price for the IPO is $31. The marketed estimate was $27 to $28.
How many Circle shares are available in its IPO?
There will be 34 million shares of CRCL available. Circle is offering 14.8 million shares, while stockholders are selling 19.2 million shares. In addition, Circle is offering underwriters, like JPMorgan and Goldman Sachs, 30 days to purchase 5.1 million additional shares.
How much will Circle raise in its IPO?
The company is set to raise $1.1 billion in its IPO.
What is Circle’s valuation?
Circle’s current valuation is about $6.9 billion, but once all shares are diluted, it could increase to $8.1 billion.
What else is there to know?
The stock market has experienced volatility under President Trump—especially in response to his “Liberation Day” tariffs. However, PitchBook reports that some big names, such as Klarna, Discord, and Figma, are still expected to make IPOs this year. Klarna is the likeliest, with a 97% probability.
Meanwhile, digital banking services startup Chime Financial is expected to list on the Nasdaq as soon as next week.
This post originally appeared at fastcompany.com
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