Cryptocurrency exchange Coinbase has officially confirmed plans to enter the stock market through a direct listing of Class A common shares on the stock exchange.
In a blog post, Coinbase stated that it is planning a direct placement to go public, rather than the traditional initial public offering (IPO) model. This means that the owners of shares can immediately sell them – the shares will not be temporarily blocked, as is the case with an IPO.
Coinbase Global Inc. today announced its intention to become a public company pursuant to a proposed direct offering of its Class A common shares. ) “, – says the blog of the exchange.
As a reminder, in December, Coinbase filed a confidential S-1 Form with the SEC, which contains details of the exchange’s plans. The company expects the S-1 Form to take effect after the SEC completes its review process, subject to market and other conditions.
Information that Coinbase is preparing to enter the stock market appeared last summer. Earlier this month, Coinbase announced that it will change the infrastructure of the exchange to prevent site outages during peak periods, as well as improve the quality of customer support.
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