Coinbase announced today its intentions to hold a private offering of $1.5 billion of senior notes. The company plans to allocate the funds to product development, acquisitions, and new personnel.
- According to a press release dated September 13th, the largest US-based exchange will offer $1.5 billion aggregate principal amount of its senior notes due 2028 and 2031 in a private offering.
- The firm said it will “fully and unconditionally” guarantee the notes. The parties aiming to purchase the notes will have the option to negotiate the interest rate, redemption provisions, and “other terms of each series.”
- Brian Armstrong’s exchange will use the raised funds to increase the “already-strong balance sheet with low-cost capital.” Additionally, the firm wants to utilize the net proceeds for other general purposes, such as “continued investments in product development.”
- Coinbase, which recently acquired data aggregator Skew, wants to continue this trend, and some of the funds could go in that direction.
- Launched in 2012, the exchange is one of the oldest and largest players in the cryptocurrency market today.
- Back in April this year, it marked a significant milestone as its shares went live for trading on Nasdaq through a direct listing.
- At the time, the stocks opened at $380 but have declined since then to the current level of approximately $250.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.
You Might Also Like:
Coinbase to Acquire the Cryptocurrency Start-up Zabo
Surprising Investor: Intel Now Owns Coinbase Shares
Axie Infinity (AXS) Skyrocketed 30% Following a Coinbase Pro Listing