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Investing.com -- Circle Internet Group Inc., along with some of its shareholders, has raised nearly $1.1 billion in an upsized initial public offering (IPO), according to Bloomberg, citing an anonymous source. The shares were priced above the marketed range, indicating a growing acceptance of stablecoin issuers.
On Wednesday, the stablecoin firm and its backers, including co-founder and CEO Jeremy Allaire, reportedly sold shares for $31 each. The number of shares in the base offering was raised to 34 million, as per a US Securities and Exchange Commission filing made the same day.
Previously, the offering had been marketed at $27 to $28 per share and had already been upsized once. Based on the outstanding shares listed in the filing, Circle’s market value, would be $6.9 billion at the $31 per share price.
When considering employee stock options, restricted share units, and warrants, the company would have a fully diluted valuation of approximately $8.1 billion, according to Bloomberg.
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