Circle raises $1.2 billion as underwriters exercise full option

NEW YORK - Circle Internet Group, Inc. (NYSE: CRCL), now valued at $23.57 billion and showing strong momentum with a 27.25% return over the past week, announced Wednesday that underwriters of its initial public offering have fully exercised their option to purchase an additional 5.1 million shares of Class A common stock.

The transaction, which closed Wednesday, brings the total gross proceeds from the IPO to approximately $1.2 billion, according to a company press release. The funds were raised by both Circle and selling stockholders. According to InvestingPro analysis, Circle maintains strong financial health with more cash than debt on its balance sheet, though the stock currently trades above its Fair Value.

The stablecoin issuer’s IPO was led by J.P. Morgan, Citigroup, and Goldman Sachs & Co. LLC as joint lead active bookrunners. Barclays, Deutsche Bank Securities and SOCIETE GENERALE served as bookrunners.

Additional financial institutions participated as co-managers, including BNY Capital Markets, Canaccord Genuity, Needham & Company, Oppenheimer & Co. and Santander. AmeriVet Securities, Drexel Hamilton, Mischler Financial Group, Inc. and Roberts & Ryan acted as junior co-managers.

The registration statement for the securities offering was declared effective by the SEC on June 4, 2025.

Circle, which describes itself as a global financial technology company, issues USDC and EURC stablecoins through its regulated affiliates. The company provides financial and technology services that enable businesses to integrate stablecoins and blockchain technology into their operations.

In other recent news, Circle Internet Group Inc. made a notable entry into the public market, raising nearly $1.1 billion in an upsized initial public offering (IPO). The shares were priced at $31 each, and the offering was managed by major financial institutions, including J.P. Morgan, Citigroup, and Goldman Sachs. Circle’s IPO was oversubscribed, and the shares opened at $69 on the New York Stock Exchange, eventually reaching around $99, reflecting a substantial increase. The company and its shareholders offered a total of 34 million shares, with Circle itself offering 14.8 million shares. The successful IPO has set a new benchmark in the cryptocurrency sector, highlighting a shift in public perception and investor confidence in stablecoin issuers. Analysts from ARK Invest suggest that Circle’s public debut could encourage more crypto firms to pursue public listings. The positive reception of Circle’s IPO has also positively impacted other crypto-related stocks, such as Coinbase and Riot Platforms. These developments underscore the growing acceptance and integration of digital currencies in the financial markets.

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