Company: CRCL
Filing Date: 2025-08-04
Form Type: DRS
Source: 0000950123-25-006942
Chunk: 136

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-04
Form: DRS
Chunk 136
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 with a single group of complementary intangible
assets associated with stablecoin trade names, trademarks, and developed technology owned by Centre. The intangible asset has an indefinite life based on the Company’s historical and continuing use of the asset, its importance to the business,
and the lack of substantive legal, regulatory, and contractual restrictions on its useful life. In addition, deferred tax assets and liabilities of $8.7 million and $57.3 million, respectively, were recorded upon completion of the acquisition.

Initial Public Offering (IPO)

In June 2025, we
completed our IPO, in which we issued and sold 19.9 million shares of our Class A common stock at a public offering price of $31.00 per share, which resulted in net proceeds to the Company of $583.0 million after deducting the
underwriting discounts and commissions and before deducting offering costs of $12.8 million.

In connection with the IPO, all shares of our
outstanding redeemable convertible preferred stock automatically converted into a total of 139.8 million shares of Class A common stock, and a total of 19.6 million shares of Class A common stock held by our co-founders and
certain entities controlled by our co-founders were converted into an equivalent number of shares of Class B common stock.

Certain of our restricted
stock units granted to employees included both a service condition and a liquidity-event related performance condition. The performance condition related to these awards was met upon the commencement of trading of our Class A common stock on
the NYSE, and the Company recognized $423.8 million of stock-based compensation expense, net of $62.7 million of capitalized costs related to internally developed software, for the vesting of approximately 9.5 million shares of
Class A common stock, 4.0 million of which were withheld for tax withholding requirements.

Hashnote Acquisition

In January 2025, we acquired 100% of the ownership interest in Hashnote, which, through its affiliates, is the fund manager of SDYF, a tokenized money market
fund and the issuer of USYC. The fair value of consideration transferred for the Hashnote acquisition was approximately $100.1 million, subject to customary adjustments, consisting of $10.2 million in cash and approximately 2.9 million shares
of our Class A common stock.

Key operating and financial indicators

We regularly review several key operating and non-GAAP financial indicators to evaluate our performance and trends and inform management’s