Stablecoin Circle Boosts IPO Valuation

Circle Increases IPO Share Offering and Valuation

• Circle plans to sell 32 million Class A shares in its IPO.
• The share price is set between $27 and $28, aiming to raise up to $896 million.
• This increases Circle’s fully diluted valuation target to $7.2 billion.
• Previous IPO plans involved selling 24 million shares at $24-$26 each.
• Ripple’s recent offer of $4-5 billion to acquire Circle was declined.
• The IPO will be underwritten by J.P. Morgan, Citigroup, and Goldman Sachs.

Circle has revised its IPO strategy by increasing both the number of shares offered and their price range, targeting a higher valuation of $7.2 billion compared to initial plans. This move follows Ripple’s unsuccessful acquisition attempt.