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Benzinga
Benzinga
Business
Anusuya Lahiri

Coinbase Stock Slips After $2 Billion Debt Offering—What It Means For Investors And The Crypto Giant's Next Move

Coinbase COIN Crypto Nasdaq
Coinbase Global

Coinbase Global (NASDAQ:COIN) stock dropped on Tuesday after it announced plans to offer $2 billion in convertible senior notes—$1 billion due in 2029 and $1 billion in 2032—through a private placement to qualified institutional buyers under Rule 144A.

If initial purchasers exercise their options, the company may offer up to an additional $300 million across both series.

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