Circle – a stablecoin-centric fintech entity receiving the backing of Goldman Sachs – has reportedly revealed details of its plans for public listing. 

Specifically, as included in the terms of the $4.5B blank-check deal, a new Ireland-based holding corporation will reportedly finalize the acquisition of Concord and Circle, turning into a publicly-traded firm with plans to be listed on the New York Stock Exchange (NYSE), under the ticker “CRCL. 

Along with the finalization of the transaction, current Circle shareholders will reportedly have in their possession approximately 86% ownership of the public firm. 

The entity reportedly disclosed that the public listing process will be carried out via a merger with blank-check company Concord Acquisition Corp, in an agreement with the value reaching $4.5 billion.

Investors have reportedly made further investments of $415 million via private investment and public equity (PIPE) financing, where if taken into account the cash in trust and Circle’s freshly closed convertible note financing, will result in an overall figure of more than $1.1 billion in gross proceeds. 

The PIPE reportedly receives the support of high-profile institutional investors such as Marshall Wace, Fidelity Management, and Research Company  Adage Capital Management.

Jeremy Allaire will still continue his role as Circle co-founder and current Head, and Concord chairman Bob Diamond is becoming a member of the Board of Directors. 

The transaction has reportedly received unanimous approval from the board of both Concord and Circle, with expectations to be closed in Q4 this year.