Press release
Coinbase Announces Early Tender Results and an Increase in Consideration in Connection with Cash Tender Offer for Up to $150.0 Million Aggregate Purchase Price of its Outstanding 3.625% Senior Notes Due 2031
Remote-First-Company/SAN DIEGO--(BUSINESS WIRE)-- Coinbase Global, Inc. (the “Company” or “Coinbase”) today announced the early tender results of its
About this update from Coinbase Global, Inc.
[{"type":"text","content":" Remote-First-Company/SAN DIEGO--(BUSINESS WIRE)--\nCoinbase Global, Inc. (the “Company” or “Coinbase”) today announced the early tender results of its previously announced offer to purchase for cash (the “Tender Offer”) up to $150.0 million in aggregate purchase price (the “Maximum Tender Amount”), excluding accrued and unpaid interest, of its 3.625% Senior Notes due 2031 (the “Notes”).\n\n\nThe Company also announced that it has amended the terms of the Tender Offer to increase each of the Total Consideration and the Tender Consideration (as each term is defined in the Company’s offer to purchase, dated August 7, 2023 (the “Offer to Purchase”)) per $1,000 principal amount of Notes tendered and accepted for purchase pursuant to the Offer to Purchase to $675.00 (the “Amended Consideration”), which increase applies to all Notes that have been, or will be, tendered (and not validly withdrawn) and accepted for purchase (and, accordingly, to eliminate the Early Tender Premium (as defined in the Offer to Purchase)).\n\n\nCertain information regarding the Notes and the Tender Offer, including (i) the Amended Consideration and (ii) the aggregate principal amount of Notes that was validly tendered as of 5:00 p.m., New York City time, on August 18, 2023 (the “Early Tender Time”), according to Global Bondholder Services Corporation, the tender and information agent for the Tender Offer (the “Tender and Information Agent”), is set forth in the table below:\n\n\n\n\nIssuer\n\n\n\n\n\n\n\nTitle of Security\n\n\n\n\n\n\n\nCUSIP Number/ ISIN (1)\n\n\n\n\n\n\n\nAggregate Principal Amount Outstanding (2)\n\n\n\n\n\n\n\nAggregate Principal Amount Tendered (2)\n\n\n\n\n\n\n\nAggregate Principal Amount Expected to be Accepted for Purchase (3)\n\n\n\n\n\n\n\nAggregate Amount to be Paid (4)\n\n\n\n\n\n\n\nAmended Consideration (5)\n\n\n\n\n\n\n\n\nCoinbase Global, Inc.\n\n\n\n\n\n\n\n3.625% Senior Notes Due 2031\n\n\n\n\n\n\n\n144A CUSIP/ISIN: 19260Q AD9 / US19260QAD97 Regulation S CUSIP/ISIN: U19328 AB6 / USU19328AB62\n\n\n\n\n\n\n\n$1,000,000,000\n\n\n\n\n\n\n\n$50,034,000\n\n\n\n\n\n\n\n$50,034,000\n\n\n\n\n\n\n\n$34,483,329\n\n\n\n\n\n\n\n$675.00\n\n\n\n\n\n\n\n\n(1) CUSIP information is provided for the convenience of Holders (as defined below). No representation is made as to the correctness or accuracy of such numbers.\n\n\n\n\n(2) As of the E...