---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-070209"
form_type: "8-K"
ticker: "COIN"
cik: "0001679788"
company_name: "Coinbase Global, Inc."
filed_at: "2024-03-18T23:59:59+00:00"
generated_at: "2026-06-04T15:18:37.622251+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Coinbase closes $1.265B 0.25% convertible note offering due 2030; enters capped call hedges

## Summary
- $1.265B aggregate principal of 0.25% Convertible Senior Notes due 2030 issued; initial conversion price ~$333.54 (32.5% premium to March 13 close).
- Net proceeds ~$1.24B; ~$104.1M used for capped call transactions; remainder to repay 2026, 2028, 2031 notes and for general corporate purposes.
- Capped call transactions entered to reduce dilution; initial cap price ~$503.46 per share (100% premium to March 13 close).
- Notes are senior unsecured, mature April 1, 2030; interest 0.25% semi-annual; redemption allowed after April 1, 2027 under stock price conditions.
- Holders may convert if stock exceeds 130% of conversion price for 20 days; fundamental change triggers put option at par.

## SEC filing metadata
- accession: 0001193125-24-070209
- form_type: 8-K
- ticker: COIN
- cik: 0001679788
- company_name: Coinbase Global, Inc.
- filed_at: 2024-03-18T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1679788/000119312524070209/0001193125-24-070209-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1679788/000119312524070209/d771279d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-070209
- JSON: https://secwatch.observer/filing/0001193125-24-070209.json
- Plain text: https://secwatch.observer/filing/0001193125-24-070209.txt

## Key facts
- Debt Financings
  Coinbase Global, Inc. incurred convertible notes of $1.265 billion aggregate principal amount with U.S. Bank Trust Company, National Association at 0.25% per year maturing April 1, 2030.
  - Instrument: convertible notes
  - Principal: $1.265 billion aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association
  - Rate: 0.25% per year
  - Maturity: April 1, 2030
  - Event: incurrence
  source text: On March 18, 2024, Coinbase Global, Inc. (the “Company”) completed its previously announced private offering of $1.265 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2030 (the “Notes”), which includes the full exercise by the Initial Purchasers (as defined below) of their option to purchase up to an additional $165.0 million aggregate principal amount of Notes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679788/000119312524070209/0001193125-24-070209-index.htm
- Material Agreements
  Coinbase Global, Inc. entered into Indenture for 0.25% Convertible Senior Notes due 2030 with U.S. Bank Trust Company, National Association valued at $1.265 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2030 (effective 2024-03-18).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association
  - Value: $1.265 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2030
  - Effective: 2024-03-18
  source text: Convertible Notes and the Indenture On March 18, 2024, Coinbase Global, Inc. (the “Company”) completed its previously announced private offering of $1.265 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2030 (the “Notes”), which includes the full exercise by the Initial Purchasers (as defined below) of their option to purchase up to an additional $165.0 million aggregate principal amount of Notes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1679788/000119312524070209/0001193125-24-070209-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.