Company: CRCL
Filing Date: 2025-05-27
Form Type: S-1/A
Source: 0001193125-25-126208
Chunk: 400

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-27
Form: S-1/A
Chunk 400
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 stock at a conversion price per share
equal to $16.23.

The second note had a principal amount of $10.0 million and the Company repaid the remaining principal including capitalized amounts of
$10.7 million and interest of $0.1 million on March 1, 2021. In September 2024, certain holders of the Company’s convertible notes converted their principal balance of $8.3 million into 524,009 shares of Series E Preferred Shares
at a conversion rate of $16.23 per share.

The Company has elected the fair value option for recording its convertible notes on the Consolidated Balance Sheets,
which are recorded at a net discount on acquisition date. The fair value of outstanding convertible notes was $40.7 million and $58.5 million as of December 31, 2024 and 2023, respectively, and are reflected as Convertible debt, net of debt discounton the Consolidated Balance Sheets. The debt discount is amortized and included in Other income (expense), netin the Consolidated Statements of Operations. The change in fair value of the convertible notes is included in
Other income (expense), netin the Consolidated Statements of Operations.

16. Stockholders’ equity

Common Stock

In accordance with the Amended and Restated Certificate
of Incorporation, effective as of July 1, 2024 (as the same may be amended from time to time, the “Charter”), as amended by that certain Certificate of Amendment to the Charter, effective December 30, 2024, the Company is authorized to
issue 300.0 million shares of Class A Common Stock with a par value of $0.0001 per share (“Class A Common Stock”) and 300.0 million shares of Class B Common Stock with a par value of $0.0001 per share (“Class B Common Stock”). As
of December 31, 2024, the Company has not issued any shares of Class B Common Stock.

F-72

The voting, dividend and liquidation rights of the holders of the Class A Common Stock are subject to and qualified by the rights, powers, and preferences of the holders of the preferred stock as detailed in the Charter. The holders of Circle’s Class A Common Stock are entitled to one vote for each share of common stock held, subject to certain limitations pertaining to the Circle’s preferred stock. As of December 31, 2024 and 2023, the Company has the following number of common