The Coinbase, one of the largest digital currency exchanges in the United States, has announced its plans to raise $ 2 billion through a special release of convertible bonds, in a move aimed at enhancing its financing capabilities and expanding its investments in new technologies and products.
According to the official disclosure, the offering includes the issuance of $ 1 billion bonds worth 2029, and other bonds of the same value worth at 2032, provided that these bonds are not guaranteed and their benefits are paid bi annually.
The company explained that the returns will be used to finance future acquisitions, cover operational and capital expenses, in addition to implementing the “Capped Call” deals that aim to reduce the potential mitigation in the event of converting bonds into shares.
Coinbase also indicated that it will give investors participating in this offering access to previous bonds worth $ 300 million from the issuance of 2023 and 2032, as part of a flexible debt management strategy.
This step comes in the wake of mixed financial results for the second quarter of the year, as revenues increased by 3.4% to $ 1.5 billion, while the return on the stock fell to $ 0.12, amid a decrease in trading revenues due to weak market fluctuations.
Coinbase is going on a similar approach to Microstrategy, which raised more than $ 8.1 billion through transferred debt tools, which reflects an increasing trend between digital asset asset companies towards diversifying financing sources and enhancing financial flexibility.
