secwatch.observer — SEC 8-K summary
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Issuer:     Coinbase Global, Inc. (COIN)
CIK:        0001679788
Form:       8-K
Filed at:   2024-03-14T23:59:59+00:00
Accession:  0001193125-24-067329
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coinbase prices $1.1B 0.25% convertible notes due 2030 to refinance existing debt
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- $1.1B aggregate principal (upsized from $1.0B), 0.25% coupon, due April 1 2030; initial purchasers have $165M over-allotment option.
- Initial conversion price ~$333.54 per share (32.5% premium over $251.73 closing price); capped call transactions entered to reduce dilution.
- Net proceeds ~$1.08B (or ~$1.24B with over-allotment) to repay 2026, 2028, and 2031 notes and for general corporate purposes.
- Settlement expected March 18, 2024; notes are unsecured and redeemable at Coinbase's option on or after April 1, 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679788/000119312524067329/0001193125-24-067329-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679788/000119312524067329/d759753d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-067329

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