Coinbase plans a $1bn convertible debt offering, emulating MicroStrategy's Bitcoin strategy.
Coinbase plans to raise $1bn through a convertible debt offering, following the path of MicroStrategy's successful Bitcoin strategy. The offering includes a "negotiated capped call transactions" provision to ensure less dilution at the conversion. This move comes after Wall Street analysts changed their negative outlook on the stock. Coinbase, the only publicly traded US cryptocurrency exchange, intends to use the proceeds for repaying existing debt and for general corporate purposes.
March 12, 2024
24 Articles