Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 342

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 342
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 of $ 31.00 per share. The IPO resulted in net proceeds to the Company of $ 583.0 million after deducting the underwriting discounts and commissions and before deducting offering costs of $ 12.8 million, which were charged to additional paid-in capital as a reduction of the net proceeds received from the IPO.

In connection with the completion of the IPO, the Company filed its Amended and Restated Certificate of Incorporation effective June 6, 2025 (the “Charter”), which authorizes a total of 2.5 billion shares of Class A common stock with a par value of $ 0.0001 per share, 500.0 million shares of Class B common stock with a par value of $ 0.0001 per share, 500.0 million shares of Class C common stock with a par value of $ 0.0001 per share and 500.0 million shares of preferred stock with a par value of $ 0.0001 per share. In connection with the IPO, all shares of our outstanding redeemable convertible preferred stock automatically converted into a total of 139.8 million shares of our Class A common stock, and a total of 19.6 million shares of Class A common stock held by our co-founders and their related entities were converted into an equivalent number of shares of Class B common stock. As a result, following the completion of the IPO, we have three classes of authorized common stock: Class A common stock, Class B common stock, and Class C common stock, of which only Class A common stock and Class B common stock were outstanding as of June 30, 2025.

Certain of our restricted stock units granted to employees included both a service condition and a liquidity-event related performance condition. The performance condition related to these awards was met upon the commencement of trading of our Class A common stock on the New York Stock Exchange, and the Company recognized $ 423.8 million of stock-based compensation expense, net of $ 62.7 million of capitalized costs related to internally developed software, for the vesting of approximately 9.5 million common shares, 4.0 million of which were withheld for tax withholding requirements.

F-9

| 2. | Summary of significant accounting policies |

**Basis of Presentation and Principles of Consolidation**

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the U.S. (“U.S. GAAP”) and the applicable