Coinbase Announces Pricing of Upsized Offering of $1.1 Billion of 0.25% Convertible Senior Notes Due 2030
The aggregate principal amount of the offering was increased from the previously announced offering size of $1.0 billion.
- The aggregate principal amount of the offering was increased from the previously announced offering size of $1.0 billion.
- Coinbase also granted the initial purchasers of the notes a 30-day option to purchase up to an additional $165.0 million principal amount of notes, solely to cover over-allotments.
- If the initial purchasers exercise their option to purchase additional notes, Coinbase expects to use a portion of the net proceeds from the sale of such additional notes to enter into additional capped call transactions.
- No sinking fund is provided for the notes, which means that Coinbase is not required to redeem or retire the notes periodically.