PANews reported on May 28 that according to The Block, Circle's latest IPO documents revealed that it completed the acquisition of tokenization company Hashnote in January 2025, with an actual consideration of US$99.8 million, including US$9.9 million in cash and 2.9 million fully vested common shares. Based on Circle's current offering price range of US$24-26 per share, the final value of the transaction may exceed US$120 million. Previously, the acquisition value has not been widely reported.

According to the revised S-1 registration statement filed by Circle with the SEC on Tuesday, the company plans to raise approximately $600 million through an initial public offering. As far as the acquisition of Hashnote is concerned, Circle's IPO may have a significant impact on the final value of the transaction. In Circle's filing, the company stated that the transaction "also provides for the issuance of up to approximately 1.8 million additional Circle common shares to certain employees of Hashnote, subject to the satisfaction of vesting conditions, which will be accounted for as compensation costs over the required service period." According to the SEC filing updated on Tuesday, Circle plans to issue 24 million Class A common shares at a price of $24 to $26 per share.