Circle IPO has peculiar Facebook-like characteristic
1. Circle plans a unique IPO with more insider shares than company shares. 2. The firm is profitable, generating $64.8 million recently, with $850 million in cash. 3. Insider sales may signal a need for liquidity amid a slow IPO market. 4. This unusual share structure is a response to investor demand for exits. 5. Only 5% of Circle's shares would be available without insider sales.