BREAKING: Coinbase plans to raise $1.5B via debt offering

BREAKING: Coinbase plans to raise $1.5B via debt offering


Coinbase, the largest cryptocurrency exchange in the United States, is planning to raise $1.5 billion via a debt offering, the company officially announced Sept. 13.

The Nasdaq-listed crypto exchange is looking to use the capital raised to further grow the company’s balance sheet for general corporate purposes as well as potential investments and acquisitions of other companies, products or technology, Coinbase said. The closing of the offering is subject to market and other conditions, the firm noted.

The new raise specifically aims to offer a $1.5 billion aggregate principal amount of the company’s senior notes due 2028 and 2031, which will be fully guaranteed by Coinbase, Inc., a wholly-owned Coinbase subsidiary acting as its holding company. The interest rate, redemption provisions, and other terms of the raise are subject to negotiations between the firm and initial purchasers.

Trending: American Airlines Flight Turns Around and Kicks Off Mother and Her Asthmatic 2-Year-Old Baby Over Mask Policy — Police Meet Them at the Gate

Coinbase noted that the notes and the related guarantee would be only offered and sold by means of a private offering memorandum to persons “reasonably believed

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend