Press release
Coinbase Announces Interim Results and Extension and Upsizing of Cash Tender Offer for its Outstanding 3.625% Senior Notes Due 2031
Remote-First-Company/SAN DIEGO--(BUSINESS WIRE)-- Coinbase Global, Inc. (the “Company” or “Coinbase”) today announced interim results of its previously
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 interim results of its previously announced offer to purchase for cash (the “Tender Offer”) a portion 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 (i) increase the amount of Notes that may be purchased in the Tender Offer from a maximum aggregate purchase price of $150,000,000 to a maximum aggregate purchase price of $180,000,000 (excluding accrued and unpaid interest) (as amended, the “Maximum Tender Amount”) and (ii) extend the expiration date of the Tender Offer from 11:59 p.m., New York City time, on September 1, 2023 to 11:59 p.m., New York City time, on September 18, 2023 (as so extended, the “Expiration Time”).\n\n\nThe Company expects to accept for payment and make payment on September 6, 2023 (the “Interim Settlement Date”) with respect to all Notes validly tendered after 5:00 p.m., New York City time, on August 18, 2023 (the “Early Tender Time”), but at or prior to 11:59 p.m., New York City time, on September 1, 2023 (the “Interim Expiration Time”), subject to the conditions set forth in the Company’s offer to purchase, dated August 7, 2023 (as amended, the “Offer to Purchase”).\n\n\nHolders of the Notes (“Holders”) who validly tendered their Notes after the Early Tender Time but at or prior to the Interim Expiration Time, in the manner described in the Offer to Purchase, are eligible to receive the Total Consideration (as defined below) for the Notes accepted for purchase. Holders will also receive accrued and unpaid interest on their Notes validly tendered and accepted for purchase from the most recent interest payment date for the Notes up to, but not including, the Interim Settlement Date. No further action is required to be taken by Holders who have already validly tendered their Notes in order to receive the Total Consideration (as defined below), plus accrued and unpaid interest, on the Interim Settlement Date.\n\n\nAs of the Early Tender Time, holders of $50,034,000 aggregate principal amount of the Notes had validly tendered and not validly withdrawn their Notes. On August 22, 2023 (the “Early Settlement Date”), the Company accepted for purchase $50,034,000 aggregate principal amount of the Notes. Accor...