Stablecoin issuer Circle Internet Group has once again increased the size of its highly anticipated initial public offering (IPO). The USDC manager now plans to raise $1.05 billion by selling 34 million shares at $31 each, pricing above its previously marketed range.
According to a Bloomberg report, this latest move boosts Circle’s valuation to $6.9 billion, based on over 220 million outstanding shares noted in its June 2 SEC filing. The company has also granted underwriters a 30-day option to purchase an additional 5.1 million shares, further signaling confidence in investor demand.
The forthcoming offering will mark Circle’s third IPO attempt. It was originally filed on April 1 but paused following global market jitters triggered by President Trump’s tariff announcements. In 2021, an IPO attempt that involved a merger with an Irish holding company also failed.
Previously, Circle was offering 32 million shares between $27 and $28, up from an initial offer of 24 million at $24–$26. Under the older price range, Circle expected net proceeds of $319 million, earmarked for taxes, product development, expansion, and possible acquisitions.
Circle doesn’t plan to offer dividends yet, choosing instead to reinvest profits to grow its business. Meanwhile, BlackRock is reportedly planning to acquire at least 10% of Circle’s shares when it lists on the New York Stock Exchange on June 5.
Circle is making a bold move as crypto IPOs are gaining momentum, as eToro, BitGo, and Kraken are also planning to go public this year.
Also Read: Circle IPO Is a Big Opportunity to Enter Crypto: Expert’s Advice
