Circle IPO hits $1.1 billion as the firm sells shares above marketed range \ stacker news ~Stacker

Quick Take

Circle and its backers, including the firm’s CEO Jeremy Allaire, sold 34 million shares at about $31 each to net the firm about $1.1 billion, Bloomberg reports.

The firm could have a market value of $6.9 billion and a fully diluted value of $8.1 billion.

That’s more than the $896 million Circle expected to raise just two days ago.

Circle Internet Group, the stablecoin issuer behind USDC, exceeded what it expected to raise in an upsized initial public offering (IPO) on Wednesday.

Circle and its backers, including the firm's CEO Jeremy Allaire, sold 34 million shares at about $31 each to net the firm about $1.1 billion, reports Bloomberg citing an anonymous source. As a result, the firm could have a market value of $6.9 billion and a fully diluted value of $8.1 billion.

...read more at theblock.co

42 sats \ 1 reply \ @BlokchainB 5 Jun

Is the dump coming?

0 sats \ 0 replies \ @0xbitcoiner OP 5 Jun

Maybe, it wasn’t the first time I’d seen a big dump after an IPO. Sometimes companies decide to go public when they realize they’ve hit their peak, but who really knows what’s coming next, right? Especially regular folks like us. Maybe the insiders know something...