Coinbase has announced plans to raise $2 billion by issuing convertible senior notes to qualified institutional buyers, according to a statement released on Aug. 5.
The offering consists of two separate tranches: $1 billion in notes due 2029 and $1 billion in notes due 2032. These will be sold privately to institutional investors who meet specific qualification criteria.
Offering details
Coinbase stated that the initial purchasers of the notes will have a 13-day option to buy up to an additional $150 million of the 2029 and 2032 notes.
These notes are unsecured senior obligations that will accrue interest paid semi-annually. The 2029 notes will mature on Oct. 1, 2029, and the 2032 notes on Oct. 1, 2032, unless they are repurchased, converted, or redeemed before these dates.
The notes will be convertible into a mix of cash and Coinbase’s Class A common stock, at the company’s discretion. The specific terms, including the interest and initial conversion rates, will be determined whe
We współpracy z: https://cryptoslate.com/coinbase-faces-stock-dip-while-announcing-a-2b-convertible-note-strategy/
