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Circle Announces Secondary Stock Sale at Premium to IPO Price
Circle Announces Secondary Stock Sale at Premium to IPO Price
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BTCCSquare news:
Circle (CRCL), the issuer of USDC stablecoin, plans to offer 10 million Class A shares at $130 each in a secondary sale—a 319% premium to its June IPO price of $31. The company will sell 2 million shares directly, with existing shareholders offloading 8 million. Proceeds will fund general corporate purposes, though Circle won't benefit from the shareholder sales.
The stock has been volatile since its NYSE debut, peaking at $298.99 on June 23 after a 235% first-day surge. Shares closed at $139.23 Thursday, down 9% for the day, with pre-market trading dipping another 1.63% to $136.98.
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