Coinbase completes $3B zero-coupon convertible note offering due 2029 and 2032

Coinbase Global, Inc.

Issued $1.5B aggregate of 0% convertible notes due 2029 and $1.5B due 2032, including full greenshoe.
Net proceeds ~$2.957B; $224.3M used for capped call transactions to reduce dilution.
Initial conversion prices: $454.44 (2029 notes, ~52.5% premium) and $394.84 (2032 notes, ~32.5% premium).
Remaining proceeds for general corporate purposes, including potential buybacks and debt repurchases.

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