Summary by Moomoo AI
On March 13, 2024, Coinbase Global, Inc. announced the pricing of its upsized private offering of $1.1 billion in 0.25% convertible senior notes due in 2030. The offering, initially set at $1.0 billion, was increased due to demand and includes an option for initial purchasers to buy an additional $165 million to cover over-allotments. The sale is expected to close on March 18, 2024, with net proceeds estimated at approximately $1.08 billion, or $1.24 billion if the additional notes are fully purchased. Coinbase plans to use the proceeds to manage its existing debts, including the repayment, repurchase, or redemption of its outstanding notes due in 2026, 2028, and 2031, and for general corporate purposes such as working capital and capital expenditures. Part of the proceeds may also fund further capped call transactions and...Show More