Circle Initiates IPO with 24 Million Shares on NYSE

According to Cointelegraph, Circle, the issuer of USDC, has announced the launch of an initial public offering (IPO) involving 24 million shares of its Class A common stock. The company revealed this development on May 27, marking a significant step in its financial strategy. Circle has applied to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol CRCL. The offering includes 9.6 million shares issued directly by Circle, while the remaining 14.4 million shares will be offered by selling stockholders. Additionally, Circle plans to grant underwriters a 30-day option to purchase up to an additional 3.6 million shares to cover over-allotments. The IPO is supported by several major U.S. investment banks, with JPMorgan, Citigroup, and Goldman Sachs serving as joint lead active bookrunners. This collaboration underscores the significance of the offering in the financial markets. European banks such as Barclays, Deutsche Bank Securities, and Societe Generale are also participating as bookrunners, highlighting the international interest in Circle's public offering. The co-managers for the IPO include BNY Capital Markets, Canaccord Genuity, Needham, Oppenheimer, and Santander, while junior co-managers are represented by AmeriVet Securities, Drexel Hamilton, Mischler Financial Group, and Roberts and Ryan. This development is part of Circle's broader strategy to expand its financial footprint and enhance its market presence. The involvement of prominent financial institutions indicates strong confidence in Circle's business model and future prospects. As the issuer of USDC, the second-largest stablecoin by market capitalization, Circle's move to go public is closely watched by industry stakeholders and investors. This is a developing story, and further updates will be provided as more information becomes available.