The IPO will proceed once the SEC completes its review and approves the special registration statement on Form S-1.
“Becoming a public company listed on US exchanges has long been part of Circle’s strategic aspirations,” declared Circle, the company behind the USDC stablecoin, in an official statement.
Circle has clarified that the number of shares to be offered on the stock market, as well as the price range, will be determined based on market conditions.
According to Bloomberg’s sources, discussions during Circle’s consultations with stock market experts indicated the potential for an initial share offering valued at approximately $9 billion.
In 2021, Circle initially planned to go public through a merger with SPAC Concord Acquisition. However, in December 2022, it announced the termination of the merger process and its withdrawal from the deal.