Coinbase registered 114.9 million shares before listing directly on the Nasdaq

Coinbase registered 114.9 million shares before listing directly on the Nasdaq


2021-03-25 06:49:52

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Coinbase has listed shares for resale in preparation for the IPO at the end of the month.

The largest US crypto exchange Coinbase has registered 114,850,769 shares of the Class A common stock to list directly on the Nasdaq stock exchange.

Coinbase announced its intention to launch its IPO in December 2020 when it first submitted registration forms to the SEC. In early March, Coinbase estimated an IPO valuation of $ 100 billion, after the stock reportedly sold for as much as $ 375 per share in a closed auction.

In the updated S-1 filing with the SEC, the average price by volume per share is proposed at $ 343.58.

Specifically, in the record:

“Based on available information, low and high selling prices per share of class A common shares and class B ordinary shares (on an exchange basis) for such individual transactions in the first quarter. The first year of 2021 (to March 15, 2021) is $ 200 and $ 375.01, respectively.

“The average price by volume per share for the first quarter of 2021 (as of March 15, 2021) was $ 343.58”

Launched in 2012, Coinbase is one of the oldest cryptocurrency exchanges in the industry. This exchange is currently handling the second largest volume among centralized exchanges.

There are many types of assets supported by Coinbase Custody, of which Bitcoin and Ethereum account for 83% of the cryptocurrency held on Coinbase.

According to analyst firm Messari, “as many as 11% of the entire crypto market cap is held in custody by Coinbase by the end of 2020. Coinbase provides custody services for more than 90 crypto assets. About half of them are tradable on the Coinbase exchange ”.

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