Circle Internet Group stock tumbled more than 5% in extended trading Tuesday after it said it would offer 10 million Class A shares to the public. Two million of the shares will be offered by the company, and 8 million shares will be sold by existing shareholders.

Circle Internet Group, Inc. (NYSE:CRCL) has announced the pricing of a public offering comprising 10 million Class A shares at $130 each, equating to an equity raise of up to $1.3 billion

Stablecoin giant Circle surpassed expectations for second-quarter revenue in its maiden quarterly results since going public, sending its shares up 5% on Tuesday.