Company: CRCL
Filing Date: 2025-02-13
Form Type: DRS/A
Source: 0000950123-25-001965
Chunk: 163

Company: Circle Internet Group, Inc.
Filing Date: 2025-02-13
Form: DRS/A
Chunk 163
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 million shares of Series F redeemable convertible preferred stock at a purchase price of $42.14 per share for total cash proceeds of $401.0 million.

Warrants

In April 2023, Circle entered into an agreement with a commercial
counterparty to grant warrants to purchase up to 4.5 million common shares of a consolidated subsidiary that will be automatically converted one for one into shares of common stock of Circle upon exercise. The warrants have an exercise price of
$42.14 per share and an exercise period of 10 years from the grant date. The vesting of the warrants is subject to certain conditions to be achieved over a five-year period. None of these conditions have been met, and none of these warrants have
been exercised or forfeited or have expired.

In August 2023, Circle entered into an agreement with a digital asset exchange to grant warrants to purchase up to
3.6 million common shares of a consolidated subsidiary that will be automatically converted one for one into shares of common stock of Circle upon exercise. The warrants have an exercise price of $25.09 per share and an exercise period of five
years from the grant date. The vesting of the warrants is subject to a performance-based condition. This condition has not been met, and none of the common shares associated with these warrants have been exercised or forfeited or have expired.

In December 2024, Circle entered into an agreement with a commercial counterparty to grant warrants to purchase approximately 2.9 million shares of its common stock. The
warrants have an exercise price of $22.71 per share and an exercise period of six years from the grant date. The vesting of the warrants is subject to certain performance-based conditions to be achieved over a three-year period. None of these
conditions have been met, and none of these warrants have been exercised or forfeited or have expired.

Other commitments and contingencies

Our commitments for facilities leases under non-cancelable operating leases amounted to $ million as of
December 31, 2024. As of the date of this prospectus, we did not have any other material commitments for cash expenditures.

We are involved in claims,
lawsuits, government investigations, and proceedings arising from the ordinary course of our business. We record a contingent liability when we believe that it is both probable that a liability has been incurred and that the amount can be reasonably
estimated. Refer to Note 23 to our consolidated financial statements included elsewhere in this prospectus for a summary of our contingent liabilities