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Crypto and blockchain firm Circle to go public, raising funds via SPAC deal on $4.5B valuation


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Cryptocurrency and blockchain services provider Circle Internet Financial Inc. is the latest to jump on the SPAC bandwagon as the company announced today that it plans to go public through a special-purpose acquisition company merger.
The deal will see Circle merge with Concord Acquisition Corp., a SPAC currently listed on the New York Stock Exchange and values the company at $4.5 billion. The merger will provide Circle with more than $1.1 billion in gross proceeds, including $415 million in private investment in public equity. PIPE participants include Marshall Wave, Fidelity Management, Adage Capital, accounts advised by ARK Investment and Third Point.
Founded in 2013, Circle initially started as a consumer finance company utilizing blockchain technology but has since evolved into cryptocurrency investment, exchange and payments service. ....

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Stablecoin firm Circle plans to go public through SPAC merger at $4.5 billion valuation


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7/9/2021 1:51:15 AM GMT
Cryptocurrency firm Circle announced that it will merge with blank cheque company Concord Acquisition Group to be listed on the New York Stock Exchange.
A new external company is to acquire both the stablecoin firm and the SPAC for the listing.
Circle’s capital would reach roughly $1.1 billion through funding rounds and the IPO.
Stablecoin firm Circle will go public through a merger with Concord Acquisition Corp, with a valuation of over $4 billion.
Another crypto firm goes public 
Circle, the principal operator of one of the world’s most popular stablecoins, USDC, has revealed that it has plans to become a public company. Through its merger with Concord Acquisition Corp, a SPAC, the deal would value the fintech firm at $4.5 billion. ....

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