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Coinbase Has Registered 114.9M Shares for Public Listing

Crypto exchange Coinbase has filed an amended prospectus for the much-awaited public offering with the U.S. SEC.

The S-1a form, which was published today, mentions that Coinbase has plans of reselling 114,850,669 shares of Class A common stock for a proposed maximum offering price of $943,218,155.

Of course, that number is only speculated, as the actual price will depend completely on the pricing of the shares at the time when the offering is being made.

It is been revealed that the offering would take place on the Nasdaq Global Select Market, and it will feature the ticker symbol “COIN.”

An official date hasn’t been divulged yet, but it is speculated that the whole operation will take place somewhere within the next weeks.

Coinbase will be treated as an “emerging growth company.” The company has been evaluated by Bloomberg at close to $100 billion.

In financial details mentioned in the prospectus, the exchange declared that it had $1.14 billion in net revenue for 2020 and that the total worth of the assets owned was $90.3 billion. It currently has more than 43 million verified users.

The firm’s prospectus also mentions a list of risk factors, which include the decentralized exchanges and the identity of BTC inventor, Satoshi Nakamoto, being revealed.

Rumors regarding the idea of Coinbase exploring a direct listing on a U.S. stock exchange started to appear in the summer of 2020, but the official announcement came only in December 2020.

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