Circle Stock Falls Over 5% After-Hours As Company Plans 10 Million Class A Share Offering

Circle Internet Group shares fell more than 5% in after-hours trading Tuesday after announcing plans to offer 10 million Class A shares to the public, according to CNBC. Of the 10 million shares being offered, Circle will sell 2 million and stockholders will sell the remaining 8 million. The offering includes a 30-day option for underwriters to buy 1.5 million additional shares. The stablecoin issuer’s shares have risen more than 450% since its June 5 public debut. Circle shares closed Tuesday up 1.3% after reporting its first quarterly results as a public company. IPO-related charges led to a $4.48 per-share loss, though revenue rose 53% on strong stablecoin growth.