Coinbase has announced plans to raise $2 billion through a private offering of convertible senior notes, aimed at bolstering its corporate resources. These proceeds will support general corporate purposes, possibly including acquisitions and technology investments. Following a significant 25% revenue drop last week, Coinbase's stock announced a pre-market decline, trading at $308.54 after closing at $314.69. The offering includes $1 billion worth of convertible notes maturing in 2029 and another $1 billion maturing in 2032, convertible into cash, Class A Common stock, or both. This move comes after a previous $1 billion offering in March last year that facilitated the announced acquisition of the Deribit exchange for around $2.9 billion.

Source 🔗