Coinbase: Will repurchase convertible senior notes for $45.5 million in cash, at a 29% discount

ChainCatcher news, Coinbase announced it will repurchase $64.5 million of its 0.50% convertible senior notes due in 2026 at an approximate 29% discount. The company estimates it will spend about $45.5 million in cash to complete the repurchase, which is expected to be completed on or around June 20, 2023, subject to customary closing conditions.

It is reported that after such closures, approximately $1.373 billion of note principal remains outstanding. (Source link)