Coinbase expects it’s Class A common stock to begin trading on the Nasdaq Global Select Market on April 14, 2021, according to the Coinbase announcement.
Moreover, the firm announces that its Form S-1 statement filed with the Securities and Exchange Commission (SEC) declared effective on April 01, 2021. The firm has registered over 115 million shares for its stock trading, which will trade under ticker symbol COIN.
The announcement adds,
“Coinbase anticipates that its Class A common stock will begin trading on the Nasdaq Global Select Market under the ticker symbol “COIN” on April 14, 2021.”
More so, the listing will not take place through the IPO route. Instead, the firm will go public through Direct listing. Earlier, the listing was scheduled to take place in March but later postponed till April.
Even more, Coinbase is a cryptocurrency exchange that offers investors to buy and ‘hold’ cryptocurrencies such as Bitcoin, Ethereum, Litecoin among others. For instance, the firm founded by Brian Armstrong and Fred Ersham in 2012.
All in all, the firm’s mission is to develop an open financial system for the world. By leveraging the power of cryptocurrency built using blockchain technology. The firm claims to have over 43 million users trading cryptocurrencies in more than 100 countries.
Furthermore, the firm ranked 10th on the 2018 CNBC Disruptor 50 list. While firms like Roblox, Spotify, Slack, and Palantir previously went public through direct listings on the New York Stock Exchange. Besides this, Coinbase will be Nasdaq’s first major direct listing.
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