Circle will IPO at $24-26 per share, Ark wants to invest $150 million, Coinbase is not listed as a shareholder

After two years of speculation, the stablecoin issuer Circle is finally going public! According to the document submitted to the U.S. Securities and Exchange Commission, Circle will issue 24 million shares at a price of $24 to $26 per share, expected to generate over $200 million in revenue. Cathie Wood's ARK Investment Management is even interested in purchasing up to $150 million worth of shares in the IPO. Circle plans to launch its initial public offering (IPO) on May 27, 2025, by issuing and selling Class A common stock. - Number of shares: 24 million (Circle issuing 9.6 million, existing shareholders selling 14.4 million) - Estimated price range: $24 to $26 per share - Stock exchange: New York Stock Exchange (NYSE) - Stock ticker: CRCL The underwriters also have an option to purchase additional shares, which could increase the issued shares from 9.6 million to 13.2 million if fully exercised. Calculating at $25 per share, Circle estimates net proceeds of approximately $213.2 million, potentially reaching $298 million if underwriters exercise their full option. The IPO is led by JPMorgan Chase, Citigroup, and Goldman Sachs. According to Bloomberg, the pricing will occur on June 4. Post-issuance share count: - Class A common stock: 197,034,661 shares (200,634,661 if underwriters exercise full option) - Class B common stock: 20,305,454 shares (with 5x voting rights) Interestingly, Circle's long-term partner Coinbase is not listed among the 5% shareholders and is estimated to hold only about 3.5% of shares.