Crypto Startup Coinbase Primes $1.25B Convertible Bond Sale

Law360 (May 17, 2021, 6:53 PM EDT) -- Cryptocurrency exchange Coinbase Inc., represented by Fenwick & West LLP, on Monday unveiled plans to raise $1.25 billion privately through a convertible debt offering, raising fresh capital one month after its public debut.

Coinbase said it plans to raise the funds from wealthy investors considered "qualified institutional buyers" through five-year notes that are set to mature in 2026 unless they are bought back, redeemed or converted into the company's Class A common stock before then.

Venture-backed Coinbase said the interest rate on the bonds, the initial conversion rate and other terms will be determined at pricing. The cryptocurrency trading venue stands to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!