Circle Internet Group, Inc., the substantial stablecoin entity, has once more escalated its Initial Public Offering (IPO) to a staggering $1.05 billion. This move prices its shares above its previously advertised range. The firm that manages the USDC (USDC) stablecoin revealed on June 4 that it is set to offer 34 million shares at $31 per share as it makes its debut on the New York Stock Exchange on June 5.
In the past, Circle planned to offer 32 million shares priced between $27 and $28 per share. This was already an increase from its initial offering of 24 million shares with prices ranging from $24 to $26. With the latest IPO pricing, Circle’s valuation now sits at a robust $6.9 billion. This figure is based on the outstanding shares mentioned in an earlier regulatory filing.
Investment behemoth BlackRock has allegedly signaled intentions to acquire at least a 10% stake in Circle upon its public introduction. As this story continues to unfold, additional information will be provided when available.
