Company: CRCL
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001193125-25-132755
Chunk: 174

Company: Circle Internet Group, Inc.
Filing Date: 2025-06-02
Form: S-1/A
Chunk 174
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approximately $8.3 million of the 2019 Note, plus accrued but unpaid interest, into 524 thousand shares of Series E preferred stock at a conversion price of $16.23 per share. The 2019 Note matures on March 1, 2026, unless earlier
converted, and has an annual interest rate of 2.9% due annually in arrears on the last day of each calendar year. At any time during the term and at the sole discretion of the holder, but only once in any given
12-month period, all or a portion of the principal amount with any accrued and unpaid interest (collectively, the “Conversion Amount”) can at the election of the holder be converted into shares of
Series E preferred stock at a conversion price of $16.23 per share.

Warrants

In April 2023, Circle entered into an agreement with a commercial counterparty to grant warrants to purchase up to 4.5 million common shares of a consolidated
subsidiary that will be automatically converted one for one into shares of Class A common stock of Circle upon exercise. The warrants have an exercise price of $42.14 per share and an exercise period of ten years from the grant date. The vesting of
the warrants is subject to certain conditions to be achieved over a five-year period. None of these conditions have been met. As of the date of this prospectus, 75% of the warrants have expired, and none of the remaining warrants have been exercised
or forfeited.

In August 2023, Circle entered into an agreement with a digital asset exchange to grant warrants to purchase up to 3.6 million common shares of a
consolidated subsidiary that will be automatically converted one for one into shares of Class A common stock of Circle upon exercise. The warrants have an exercise price of $25.09 per share and an exercise period of five years from the grant date.
The warrants are subject to a performance condition. This condition has not been met, and none of the common shares associated with these warrants have been exercised or forfeited or have expired.

In December 2024, Circle entered into an agreement with a commercial counterparty to grant warrants to purchase up to approximately 2.86 million shares of Class A common
stock of Circle. The warrants have an exercise price of $22.71 per share and an exercise period of six years from the grant date. The vesting of the warrants is subject to certain conditions to be achieved over a three-year