Coinbase to pick up $ 2 billion in convertible notes such as currencies in pre-market trade

Popular centralized exchange coinbase announced On Tuesday his intention to pick up $ 2 billion through convertible senior notes in a private offer. The funds will be used for ‘general business purposes’, which it says that it can include ‘acquisitions of other companies, products or technologies’.

The listed shares of the company are closed on Monday at $ 314.69, per Commercial reproduction25% fall compared to his all time. The currency has since brought almost 2% in the pre-market trade up to $ 308.54.

The sale of Coinbase is open for “qualified institutional buyers” to buy $ 1 billion in convertible senior notes that mature in 2029, as well as another $ 1 billion in banknotes that mature in 2032. These banknotes can be converted into cash a common Stock or a combination of.

After paying the necessary costs in connection with the sale, the announcement says that Coinbase will use the proceeds for “general business purposes”, which can include “working capital, capital expenses and investments in and acquisitions of other companies, products or technologies.”

Coinbase announced in the same way his plan to lift $ 1 billion through convertible notes in March last year, that too sketched that it can use the funds for acquisitions. Since Coinbase has announced that the Crypto exchange of Deribit will acquire around $ 2.9 billion – an increase of $ 700 million in cash and 11 million shares of ordinary shares of Coinbase Class A

The company went public in 2021shares Last month a record high was $ 419.78 as Bitcoin Steeg. However, only a week later the company was struck with a $ 4.5 million fine by a British regulator To allow “risky customers” to buy crypto.

On Thursday, Coinbase revealed that sales had fallen by 25% compared to the previous financial quarter. The exchange was confronted with financial fallout after his most important data breach in May, but also noticed that advantage of his investment in Stablecoin -Emittentcirkel – that increased after the June list. The day after the disappointing profit call, Coin fell by 17%.