Coinbase Global, Inc. is a leading digital currency platform that enables users to buy, sell, and trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and many others. The company provides a user-friendly interface for both individual investors and institutional clients, offering services such as cryptocurrency trading, wallet solutions, and educational resources about the digital currency space. Additionally, Coinbase is involved in the broader blockchain ecosystem, supporting developers and businesses in building applications that utilize cryptocurrency and blockchain technology. Through its innovative offerings, Coinbase aims to make digital currencies accessible and secure for everyone. Read More
Coinbase Global, Inc. (“Coinbase”) (Nasdaq: COIN) today announced the pricing of $1.3 billion aggregate principal amount of 0% Convertible Senior Notes due 2029 (the “2029 notes”) and $1.3 billion aggregate principal amount of 0% Convertible Senior Notes due 2032 (the “2032 notes” and, together with the 2029 notes, the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). The aggregate principal amount of the offering was increased from the previously announced offering size of $2.0 billion. Coinbase also granted the initial purchasers of the notes options to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $200.0 million principal amount of the 2029 notes and $200.0 million principal amount of the 2032 notes. The sale of the notes to the initial purchasers is expected to settle on August 8, 2025, subject to customary closing conditions, and is expected to result in an aggregate of approximately $2.56 billion (or approximately $2.96 billion if the initial purchasers exercise their options to purchase additional 2029 notes and 2032 notes in full) in net proceeds to Coinbase after deducting the initial purchasers’ discounts and commissions and estimated offering expenses payable by Coinbase.
Shares of blockchain infrastructure company Coinbase (NASDAQ:COIN) fell 5.4% in the afternoon session after the company announced a plan to offer $2 billion in convertible senior notes. The private offering consisted of two $1 billion tranches, due in 2029 and 2032, directed at qualified institutional buyers. Investors reacted to the potential for future dilution. Dilution happens when a company issues new shares, which can decrease the ownership percentage of existing stockholders. The news extended weakness from the company's recent quarterly results, which showed a slowdown in trading activity.
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Coinbase Global, Inc. (“Coinbase”) (Nasdaq: COIN) today announced its intention to offer, subject to market conditions and other factors, $1.0 billion aggregate principal amount of Convertible Senior Notes due 2029 (the “2029 notes”) and $1.0 billion aggregate principal amount of Convertible Senior Notes due 2032 (the “2032 notes” and, together with the 2029 notes, the “notes”) in a private offering (the “offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act of 1933, as amended (the “Securities Act”). Coinbase also expects to grant the initial purchasers of each series of notes options to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $150.0 million principal amount of the 2029 notes and $150.0 million principal amount of the 2032 notes. The notes will be senior, unsecured obligations of Coinbase and will accrue interest payable semi-annually in arrears. The 2029 notes will mature on October 1, 2029 and the 2032 notes will mature on October 1, 2032, unless earlier repurchased, converted or, in the case of the 2032 notes, redeemed. The notes will be convertible into cash, shares of Coinbase’s Class A common stock, or a combination thereof, at Coinbase’s election. The interest rate, initial conversion rate, and other terms of each series of notes are to be determined upon pricing of the offering.
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