Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 420

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 420
---
0 million principal balance was converted to Series E Preferred Stock and $1,074.0 million was recorded in Additional paid-in capital.

In May 2022, the Company issued 9.5 million of Series F redeemable convertible preferred stock (“Series F Preferred Stock”) par value of
$0.0001, at a purchase price of approximately $42.14 per share for total cash proceeds of $401.0 million.

In September 2024, a portion of the
holders of the Company’s convertible notes converted their principal balance of $8.3 million into 524,009 shares of Series E Preferred Stock at a conversion rate of $16.23 per share. The fair value of the convertible notes as of the conversion
date was $15.0 million, of which $8.5 million was converted to Series E Preferred Stock and $6.5 million was recorded in Additional paid-in capital.

The
holders of the Series A, Series B, Series C, Series D, Series E and Series F preferred stock (collectively, “Voting Preferred Stock”) have various rights and preferences as follows:

Voting

The holders of the Voting Preferred Stock shall
be entitled to such number of votes equal to the number of whole common stock into which the preferred stock held by such holder are convertible in accordance with conversion rules as of the record date for determining stockholders entitled to vote
on such matter and shall have voting rights and powers equal to the voting rights and powers of the common stock. The holders of the Series A Preferred Stock shall be entitled to appoint and remove two Directors to the Board. The holders of Series C
Preferred Stock are entitled to appoint and remove one Director to the Board. The holders of Series C-1 Preferred Stock have no voting rights except where it may be statutorily required.

Dividends

The holders of the Preferred Stock shall be
entitled to cash dividends at the rate of eight percent of the original price per annum, payable only when as and if declared by the Board out of profits of the Company available for distribution in priority to any declaration or payment of any
dividend or other distribution on any other class of stock in the capital of the Company. The dividends shall not be cumulative and shall be paid in immediately available funds.

Liquidation

Upon a liquidation event, whether voluntary
or involuntary, any amounts or combined assets of Circle and its subsidiaries legally available for distribution to holders of the Company’s stock of all classes, shall be paid as follows: first,