Coinbase $2.3B Convertible Note: Smart Move or Red Flag?
Coinbase Global was down 6.3%. The crypto exchange unveiled a convertible note offering worth up to $2.3 billion on Tuesday. Coinbase said it plans to offer $1 billion in convertible senior notes due in 2029, and $1 billion due in 2032 in a private offering. The company also expects to grant options to purchase up to an additional $150 million of each set of notes.
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How do you view a company issuing new shares at high levels?
Is it a case of cashing out on retail investors, or simply a good time to raise funds?
At what price would it be a good opportunity to buy the dip?
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