BusinessCoinbaseSEC

Coinbase Registers 115 Million “COIN” Shares at $8.2 Each

American cryptocurrency exchange Coinbase has filed a revised securities application to list about $1 billion in share capital publicly. 
Coinbase Stock Debut Edges Closer
Last month, the Securities and Exchange Commission (SEC) in the U.S. published Coinbase’s S-1 filing for a direct listing of its Class A common stock, with the stock ticker “COIN,” Nasdaq Global Select Market. 
In today’s amended document, the exchange has specified a listing of 114,850,769 shares of Class A common stock with a booked share capital of $943,218,155. The total share capital as of Dec. 31 at Coinbase was $1.5 billion. The nominal value of the shares is $8.2.
However, this represents the shares’ nominal value, and the market value is usually higher than the nominal value.
The company has only two classes of shares that differ in their voting rights. Each class B share, for instance, has 20 equivalent votes compared to class A. The company automatically converted all seed investments and convertible preferred stock as of Dec. 31, 2020, into Class B and Class A common stock.
The exchange business noted that the low and high price of class A shares in the first quarter of 2021 in “private transitions” was $200.00 and $375.01.
The adjusted EBITDA (gross earnings before tax, interest, depreciation, and amortization) ending Dec. 31 of Coinbase is $24.3 million and $527.4 million in the last two years.
The SEC application also added a note of their case against the SEC for XRP trading. The company noted significant revenue from XRP trading to the tune of $108.6 million in 2020. However, it plans to “ …
Story continues on Crypto Briefing

Related posts
CoinbaseCointelegraph.comCryptocurrenciesIPO

Coinbase registers 114.9 million shares ahead of direct Nasdaq listing

Coinbase listed the shares for resale in preparation for its initial public offering at the end of the month. Cryptocurrency exchange Coinbase has registered 114,850,769 shares of class A common stock for a direct listing on the Nasdaq stock exchange,…
MarketsRippleSECTradingXRP

XRP Surges Nearly 20% as Token Holders Unite Against SEC

XRP holders have filed a motion against the U.S. Securities and Exchange Commission (SEC) for misrepresenting them in the ongoing lawsuit against Ripple.   Investors Seek Damages for the SEC’s “Misconduct” Ripple is back in the crypto spotlight after a group…
BusinessCrypto.comFinancial ServicesNFTs

Crypto.com Hires Downtown Exec to Lead New “Invite-Only” NFT Platform

Crypto financial services app, Crypto.com has appointed Joe Conyers III as executive VP of NFT Platform, the company announced.  Crypto.com’s Invite-only NFT Platform Crypto.com announced it hired Joe Conyers III, the ex-Chief Strategy Officer at a popular independent music publishing…