EddieJayonCrypto
13 Mar 24
Coinbase Plans to Raise $1 Billion Through Convertible Debt Offering The only publicly traded cryptocurrency exchange in the U.S., Coinbase (COIN), is announcing its plan to raise $1 billion through a convertible debt offering. This move follows the path of Michael Saylor's MicroStrategy...
The only publicly traded cryptocurrency exchange in the U.S., Coinbase (COIN), is announcing its plan to raise $1 billion through a convertible debt offering. This move follows the path of Michael Saylor's MicroStrategy and is designed to avoid an equity sale that could harm Coinbase's stock price.
The offering includes an extra provision, "negotiated capped call transactions," which will ensure less dilution at the conversion. Furthermore, this decision comes after some Wall Street analysts shifted from a bearish stance to a more positive view of the stock, indicating a growing confidence in Coinbase's future prospects.
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