Circle acquired Hashnote in January 2025 for "$9.90 million in cash and approximately 2.90 million shares of vested common stock" for a total consideration of approximately "$99.80 million", according to its latest IPO filing. The transaction also includes "up to approximately 1.80 million shares of vested common stock to certain Hashnote employees", to be recognised as compensation cost instalments. Circle's IPO plans to issue 24 million shares of Class A common stock with a price range of $24 to $26 per share.
Hashnote was originally founded with a $5 million investment from Cumberland Labs, an issuer of U.S. Income Coins (USYC). According to RWA.xyz, USYC's position in tokenized U.S. Treasury products has been declining since the Circle acquisition.
Circle buys Hashnote for nearly $100 million, mostly in shares
2025-05-27 21:36:47
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