Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 111

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 111
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 defending the lawsuit. Such a lawsuit could also divert the time and attention of our management from our business. If securities or industry analysts do not regularly publish research or reports about our business, or if they drop coverage of us, or if they issue adverse or misleading opinions regarding our stock, our stock price and trading volume could decline. The trading market for our Class A common stock may be influenced by the research and reports that industry or securities analysts publish about us or our business. If securities or industry analysts drop coverage of us or fail to publish reports on us regularly, we could lose visibility in the financial markets, which in turn could cause our stock price or trading volume to decline. Moreover, if one or more of the analysts who cover us downgrade our stock, or if our results of operations do not meet their expectations, our stock price could decline. If a substantial number of shares become available for sale and are sold in a short period of time, the market price of our Class A common stock could decline. Sales of a substantial number of shares of Class A common stock in the public market, or the perception in the market that the holders of a large number of shares of Class A common stock (or securities convertible into shares of Class A common stock) intend to sell shares, could reduce the market price of our Class A common stock. As of June 30, 2025, after giving effect to our issuance and sale of shares of Class A common stock in this offering, we would have had shares of Class A common stock outstanding (or 63

CONFIDENTIAL TREATMENT REQUESTED BY CIRCLE INTERNET GROUP, INC. PURSUANT TO 17 C.F.R. § 200.83 shares of Class A common stock if the underwriters exercise their option to purchase additional shares in full), shares of Class B common stock outstanding, and no shares of Class C common stock outstanding. This includes 39,100,000 shares of Class A common stock that we and the selling stockholders sold in our initial public offering and shares of Class A common stock that we and the selling stockholders are selling in this offering (or shares of Class A common stock if the underwriters exercise their option to purchase additional shares in full), all of which may be freely transferred without restriction or registration under the Securities Act, except for any shares purchased by one of our “affiliates,” as that term is defined in Rule 144 under the Securities Act. Substantially all of our remaining shares outstanding are currently subject to transfer restrictions as a