Circle (CRCL)StableCOin issuer company behind the USDC tokenet, announced a secondary share sale of 10 million shares on Tuesday.
The company offers 2 million of Class A joint share for sale while selling shareholders unloading another 8 million, according to an S-1-archiving at the US Securities and Exchange Commission (SEK). The Underwriter Greenshoe setting is for another 1.5 million shares.
Circle’s stock fell 6% in after hours trading at $ 154. It’s down nearly 50% from the record height of $ 299, but still up about five times from the IPO price of $ 31.
The offer comes about two months after Circle’s debut on the New York Stock Exchange, who saw its share price Skyrocket in the middle of the investor appetite to get exposure to the flowering stableecoin market.
Earlier on Tuesday, the company reported $ 428 million losses for the second quarter of the year.
Read more: Circle reveals Layer-1 Blockchain Bow, reports $ 428 million Q2 losses
