Coinbase crypto exchange plans to go public later this year.
Coinbase Global, Inc. one of the world’s biggest cryptocurrency exchange in an official blog post today, disclosed it wants to become a publicly-traded company pursuant to a proposed direct listing of its Class A common stock, after a registration statement with the United States Securities and Exchange Commission.
The San Francisco based digital currency exchange announced in December 17, 2020 that it had filled and submitted a draft registration statement on Form S-1 with the SEC. However, the Form S-1 will become affective after the US SEC Completes its review process.
More clarification revealed that the direct listing format used will not offer new shares but it will instead sell already existing shares directly to the public. It will give those holding stock in the company the advantage of selling their stocks without lockups.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities. This announcement is being issued in accordance with Rule 135 under the Securities Act.