Circle Upsizes IPO to $1.05 Billion Ahead of NYSE Debut

Stablecoin issuer Circle Internet Group, Inc., the company behind the USDC stablecoin, has increased the size and pricing of its long-anticipated IPO , aiming to raise $1.05 billion as it prepares to debut on the New York Stock Exchange on June 5. Circle now plans to offer 34 million shares at $31 each—above the earlier marketed range of $27 to $28 and a significant jump from its initial offer of 24 million shares priced between $24 and $26. The firm has also granted underwriters a 30-day option to purchase an additional 5.1 million shares, potentially pushing the offering even higher. Based on over 220 million outstanding shares detailed in a June 2 Securities and Exchange Commission (SEC) filing, this latest pricing puts Circle’s valuation at approximately $6.9 billion. The company noted it will not issue dividends and instead plans to reinvest earnings to fund product development, expansion efforts, and potential acquisitions. BlackRock Eyes Stake as Circle Expands Ambitions According to sources cited in the June 4 announcement, investment giant BlackRock plans to acquire at least 10% of Circle’s shares once the firm goes public. Circle previously projected that with the lower share price of $27, it would have raised $319 million in net proceeds. A significant portion—around $111 million—is set to cover tax obligations, with the remainder earmarked for innovation, global growth, and strategic investments. This IPO marks Circle’s third attempt to go public. The company initially filed for an IPO in April 2021 via a merger with an Irish holding company, but the deal fell through. Its latest effort, filed on April 1, 2025, was briefly paused after President Trump’s tariff announcements triggered a global market sell-off. Broader Crypto IPO Momentum Circle’s bold move echoes a broader trend among crypto firms looking to enter public markets. In May, eToro upped its IPO to $620 million from $500 million. Crypto exchange Kraken is also reportedly exploring a public listing, while crypto custody firm BitGo launched an over-the-counter trading desk earlier this year ahead of its rumored IPO. Coinbase remains the only major US-listed crypto company since its 2021 Nasdaq debut. If successful, Circle’s listing may signal renewed investor confidence in the digital assets sector amid regulatory uncertainty and market recovery. The post Circle Upsizes IPO to $1.05 Billion Ahead of NYSE Debut appeared first on TheCoinrise.com .

Source: The Coin Rise