Circle Shares Slide 5% Post-Market on Share Sale Plan Following 425% IPO Rally
- Circle to sell 10M Class A shares, including 8M from existing shareholders, after massive IPO rally.
- Q2 revenue surged 53% to $658M, beating analyst estimates, despite IPO-related losses.
- USDC circulation rose 90% YoY to $65.2B, making it the fastest-growing major stablecoin.
Circle Internet Financial shares dropped more than 5% in after-hours trading Tuesday after the company announced plans to sell 10 million Class A shares, following a staggering rally of over 425% since its June 5 IPO.
In a filing with the US Securities and Exchange Commission (SEC), the stablecoin issuer said it will offer 2 million shares itself, while existing shareholders will sell 8 million shares.
Underwriters will also have a 30-day option to purchase an additional 1.5 million shares.
Circle’s First Quarterly Earnings
The announcement came just hours after Circle reported its first quarterly earnings as a publicly t…
The post Circle Shares Slide 5% Post-Market on Share Sale Plan Following 425% IPO Rally appeared first on Coin Edition.
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Circle Shares Slide 5% Post-Market on Share Sale Plan Following 425% IPO Rally
- Circle to sell 10M Class A shares, including 8M from existing shareholders, after massive IPO rally.
- Q2 revenue surged 53% to $658M, beating analyst estimates, despite IPO-related losses.
- USDC circulation rose 90% YoY to $65.2B, making it the fastest-growing major stablecoin.
Circle Internet Financial shares dropped more than 5% in after-hours trading Tuesday after the company announced plans to sell 10 million Class A shares, following a staggering rally of over 425% since its June 5 IPO.
In a filing with the US Securities and Exchange Commission (SEC), the stablecoin issuer said it will offer 2 million shares itself, while existing shareholders will sell 8 million shares.
Underwriters will also have a 30-day option to purchase an additional 1.5 million shares.
Circle’s First Quarterly Earnings
The announcement came just hours after Circle reported its first quarterly earnings as a publicly t…
The post Circle Shares Slide 5% Post-Market on Share Sale Plan Following 425% IPO Rally appeared first on Coin Edition.
Читать больше
$6.6 Trillion Bank Run Risk: Banking Group BPI Slams Coinbase, PayPal Stablecoin Rewards