Circle's latest IPO filing shows acquisition of Hashnote for nearly $100 million

Odaily Planet Daily News: According to Circle's latest IPO filing with the US Securities and Exchange Commission (SEC), the company has completed the full acquisition of token startup Hashnote in January 2025, with a total transaction amount of approximately $99.8 million, including $9.9 million in cash and approximately 2.9 million shares of Circle common stock (fully owned). According to the documents, the transaction also includes the issuance of up to approximately 1.8 million additional ordinary shares to incentivize Hashnote employees, which will be based on service period attribution and included in compensation costs. Circle has not previously disclosed the amount of the acquisition. This disclosure also shows that Circle plans to raise approximately $600 million through an IPO and issue 24 million Class A common shares at a price range of $24 to $26 per share. Hashnote received a $5 million investment from Cumberland Labs, and its product USYC experienced a decline in market share in the US Treasury tokenization market after its acquisition. The market is currently dominated by BlackRock's BUIDL fund, with assets of nearly $3 billion (The Block).