Coinbase Just Raised $2.6B Without Paying Interest–Here’s Why That’s a Big Deal
Coinbase (NASDAQ:COIN) just pulled off a $2.6 billion convertible note offering that’s as bold as it is strategic. The deal includes two tranches of zero-coupon senior notes$1.3 billion due 2029 and $1.3 billion due 2032targeted at institutional buyers. Both sets are convertible into equity at steep premiums: $454.44 for the 2029s (a 52.5% markup) and…