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.

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

Circle Internet Group shares surged Tuesday as its first financial report since its initial public offering came in better than expected on growing use of the USDC stablecoin.