M&A
confidence high
sentiment neutral
materiality 0.85
Coinbase to acquire crypto derivatives exchange Deribit for $700M cash + ~11M shares
Coinbase Global, Inc.
- Total consideration: $700M in cash plus ~10.998M shares of Coinbase Class A common stock.
- Deribit shareholders subject to lock-up: 2/3 of stock received, released 50% at 90 days and 50% at 180 days post-closing.
- Deal subject to regulatory approvals and other customary conditions; outside date of Nov 8, 2025 with extension possible.
- Coinbase must pay $100M termination fee if deal fails due to regulatory approval issues.