Coinbase Announces Proposed Private Offering of $1.5 Billion of Senior Notes for General Corporate Purposes Including Product Development and Potential M&A
September 13 2021 - 7:50AM
Business Wire
Coinbase Global, Inc. (“Coinbase”) (Nasdaq: COIN) today
announced its intention to offer, subject to market conditions and
other factors, $1.5 billion aggregate principal amount of its
Senior Notes due 2028 and 2031 (the “notes”) in a private offering
(the “offering”). The notes will be fully and unconditionally
guaranteed by Coinbase, Inc., a wholly owned subsidiary of
Coinbase. The interest rate, redemption provisions, and other terms
of each series of notes will be determined by negotiations between
Coinbase and the initial purchasers.
This capital raise represents an opportunity to bolster our
already-strong balance sheet with low-cost capital. Coinbase
intends to use the net proceeds from the offering for general
corporate purposes, which may include continued investments in
product development, as well as potential investments in or
acquisitions of other companies, products, or technologies that
Coinbase may identify in the future. The closing of the offering is
subject to market and other conditions.
The notes and the related guarantee will only be offered and
sold by means of a private offering memorandum 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”), and outside the United States to
non-U.S. persons pursuant to Regulation S under the Securities Act.
Neither the notes nor the related guarantee have been, or will be,
registered under the Securities Act or the securities laws of any
other jurisdiction, and unless so registered, may not be offered or
sold in the United States, except pursuant to an applicable
exemption from such registration requirements.
This announcement is neither an offer to sell nor a solicitation
of an offer to buy the notes or the related guarantee and shall not
constitute an offer, solicitation, or sale in any jurisdiction in
which such offer, solicitation, or sale is unlawful.
About Coinbase
Coinbase is building the cryptoeconomy – a more fair,
accessible, efficient, and transparent financial system enabled by
crypto. Coinbase started in 2012 with the radical idea that anyone,
anywhere, should be able to easily and securely send and receive
Bitcoin. Today, Coinbase offers a trusted and easy-to-use platform
for accessing the broader cryptoeconomy.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains “forward-looking statements”
including, among other things, statements relating to the
completion, timing, and size of the proposed offering, and the
expected use of proceeds from the offering. Statements containing
words such as “could,” “believe,” “expect,” “intend,” “will,” or
similar expressions constitute forward-looking statements. These
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These statements involve risks and uncertainties that could cause
actual results to differ materially, including, but not limited to,
whether or not Coinbase will offer the notes or consummate the
proposed offering, the final terms of the proposed offering, market
conditions affecting the proposed offering, changes in plans or
timing relating to the proposed offering, the anticipated use of
the net proceeds of the proposed offering, which could change as a
result of market conditions or for other reasons, and the impact of
general economic, industry or political conditions in the United
States or internationally, including the impacts of the COVID-19
pandemic. The foregoing list of risks and uncertainties is
illustrative, but is not exhaustive. For information about other
potential factors that could affect Coinbase’s business and
financial results, please review the “Risk Factors” described in
Coinbase’s Quarterly Report on Form 10-Q for the quarterly period
ended June 30, 2021, filed with the Securities and Exchange
Commission (the “SEC”) and in Coinbase’s other filings with the
SEC. Except as may be required by law, Coinbase undertakes no
obligation, and does not intend, to update these forward-looking
statements after the date of this release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210913005454/en/
Press: press@coinbase.com Investors: investor@coinbase.com
Converted Organics Inc. - Units Consisting of One Share of Common One Class H Warrant (MM) (NASDAQ:COINU)
Historical Stock Chart
From Apr 2024 to May 2024
Converted Organics Inc. - Units Consisting of One Share of Common One Class H Warrant (MM) (NASDAQ:COINU)
Historical Stock Chart
From May 2023 to May 2024