Coinbase, a major US crypto exchange, plans to raise $ 1.5 billion through new bond issuance.The company announced on the 13th。
Coinbase aims to use the funds raised to expand its balance sheet for acquisitions of other companies and products and investments in technology.
The new funding plans to issue $ 1.5 billion worth of preferred bonds due in 2028 and 2031. Interest rates and redemption terms will be negotiated between the coin base and the first purchaser.
Coinbase states that bonds and related guarantees will only be sold to those who are “reasonably believed to be qualified investors” outside the local securities law and the United States.
The news came as Coinbase was warned by regulators that it would sue for a cryptocurrency lending program.
Coinbase is one of the largest exchanges in the world with daily trading volume of over $ 5.6 billion. The company went public directly on the Nasdaq in April of this year, with plans to raise $ 1.25 billion in five shortly thereafter.
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