Coinbase Global shares are trading lower after the company announced the pricing of an upsized offering of $1.1 billion of 0.25% of Convertible Senior Notes due 2030.
Portfolio Pulse from Benzinga Newsdesk
Coinbase Global announced the pricing of an upsized offering of $1.1 billion of 0.25% Convertible Senior Notes due 2030, leading to a decrease in its share price.
March 14, 2024 | 2:13 pm
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Coinbase Global's share price decreased following the announcement of a $1.1 billion offering of 0.25% Convertible Senior Notes due 2030.
The announcement of a significant offering of Convertible Senior Notes by Coinbase Global is likely to dilute the value of existing shares, leading to a decrease in share price. This is a common market reaction to such financial activities, as investors may be concerned about dilution and the company taking on more debt.
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