USDC issuer Circle moves forward with initial public offering on NYSE

As part of its 24 million-share IPO, Circle will be offering 9.6 million shares of Class A common stock, while selling stockholders will offer the remaining 14.4 million shares.

Circle, the issuer of USDC, the second-largest stablecoin by market capitalization, has launched an initial public offering (IPO) of 24 million shares of its Class A common stock, the company said on May 27.

The firm has applied to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol CRCL. As part of the offering, Circle is issuing 9.6 million shares of Class A common stock, the company said in a news release.

The remaining 14.4 million shares of Class A common stock will be offered by selling stockholders. Circle is also expected to grant the underwriters a 30-day option to buy up to an additional 3.6 million shares of Class A common stock to cover over-allotments.

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