(Circle) Circle has announced a new deal with Concord Acquisition Corp. setting it on course to make a public debut in December.
Following the deal, Circle’s enterprise value rose to $9 billion, double from the $4.5 billion valuation it scored in July 2021.
Circle says the increased valuation reflects improvements in its competitive and financial position, with CEO Jeremy Allaire lauding the company’s role in digital currencies and the open internet.
Allaire says a public market will strengthen the confidence and trust in Circle, crucial in building a more inclusive financial system.
Circle is expected to trade under ticker “CRCL” on the New York Exchange.
