Company: CRCL
Filing Date: 2025-04-01
Form Type: S-1
Source: 0001193125-25-070481
Chunk: 356

Company: Circle Internet Group, Inc.
Filing Date: 2025-04-01
Form: S-1
Chunk 356
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 notes automatically converted their principal balance of $451.0 million into 27,790
thousand 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 $1,525.0 million, of which $451.0 million principal balance was converted to Series
E Preferred Stock and $1,074.0 million was recorded in Additional paid-in capital.

F-44

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