Coinbase (NASDAQ:COIN) is preparing to go public but the company won’t be doing so through the normal method of an initial public offering (IPO)…
Instead of hiring a bank to act as the broker of an IPO, Coinbase is planning a direct listing of its stock instead. This will allow current investors to sell their shares to new investors once the stock goes public.
That begs the question of when does Coinbase go public and what’s the price range for its stock? The company is planning to list shares of its stock on the Nasdaq Exchange on April 14. These will trade under the COIN stock ticker. As for the price range, that’s still unknown.
Other details about the Coinbase direct listing are still up in the air. That includes how many shares the company plans to resell during the offering. We also don’t know how much voting power investors in its common stock will have.
What we do know is that Coinbase generates its revenue from the sale of cryptocurrencies. That’s worth noting as the digital assets have been booming of late. Bitcoin (CCC:BTC-USD) alone has seen its price surge to roughly $58,000 per token. That sets Coin up to generate plenty of revenue from transaction fees.
It’s also worth noting that Coinbase has been expanding its crypto exchange lately. The company recently allowed investors on its site to start trading Cardano (CCC:ADA-USD). However, this is only for those on Coinbase Pro.
Coinbase going public is also big news for crypto investors. The company’s crypto exchange is the…
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