Circle Internet Group, the firm behind stablecoin USDC, has filed for an initial public offering on the New York Stock Exchange, the firm said on Tuesday. Circle is offering 24 million of its class A shares, out of which 9.6 million is being offered by the firm, while 14.4 million shares are being offered by selling stakeholders. It also expects to grant the underwriters a 30-day option to buy up to 3.6 million shares. The IPO price is expected to be between $24 and $26 per share. Based on the higher end of the range, Circle could raise almost $250 million, while the selling stakeholders could get nearly $375 million for their stake. Cathie Wood’s ARK has expressed interest in buying $150 million worth of shares from the IPO, the USDC-issuer said in a filing. Cathie Wood’s ARK Investment have indicated an interest in buying $150 million shares of the USDC-issuer from the IPO, Circle said in a filing. J.P. Morgan, Citigroup, and Goldman Sachs & Co. LLC are acting as joint lead active bookrunners for the offering. The stablecoin giant will trade under the ticker ‘CRCL.” The Jeremy Allaire-led firm has been trying to go public for almost 4 years. In 2021, Circle tried to go public through a special purpose acquisition company (SPAC), which later fell through.

Full report : Stablecoin operator Circle files for an NYSE IPO and plans to offer 24 million shares at $24 to $26 each, raising up to nearly $250 million; Cathie Wood’s ARK may buy $150 million.