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Coinbase Registers 114.9M Shares for Public Listing

Coinbase plans the resale of 114,850,769 shares of Class A common stock for its public offering.

Mar 17, 2021 at 10:52 a.m. UTC
Updated Sep 14, 2021 at 12:27 p.m. UTC

Cryptocurrency exchange Coinbase has filed an amended prospectus for its much-anticipated public offering with the U.S. Securities and Exchange Commission.

  • The S-1a form, published Wednesday, states Coinbase plans the resale of 114,850,769 shares of Class A common stock for a proposed maximum offering price of $943,218,155.
  • That value is only a guide because it will depend on the pricing of the shares at the time of the offering.
  • The offering would take place on the Nasdaq Global Select Market with the ticker symbol “COIN.”
  • No date has been provided for the offering in the filing, though it is expected within weeks.
  • The company will be treated as an “emerging growth company.”
  • Bloomberg has put the firm's valuation at near $100 billion.
  • In financial details provided in the prospectus, the exchange says it took $1.14 billion in net revenue for 2020 and held assets worth $90.3 billion. It now has 43 million verified users.
  • As reported by CoinDesk previously, the firm's prospectus provides a long list of risk factors, including decentralized exchanges and the identify of Bitcoin inventor Satoshi Nakamoto being revealed.
  • Rumors first emerged Coinbase was exploring a direct listing on a U.S. stock exchange last summer, though the company didn’t confirm the news until December. 

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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