10:43 AM EDT, 08/05/2025 (MT Newswires) -- Coinbase Global ( COIN ) shares fell 4.6% in recent Tuesday trading after the company announced plans for a $2 billion private offering of convertible senior notes, split evenly between maturities in 2029 and in 2032.

Initial purchasers will have the option to buy an additional $150 million principal amount of each tranche, the company said Tuesday in a statement.

The notes will be senior, unsecured obligations and convertible into cash, shares of Class A common stock or a mix of both, at Coinbase's choosing.

Coinbase also plans to enter into privately negotiated capped call transactions for each series of notes with one or more of the initial purchasers.

Net proceeds will be used for costs of the capped call transactions and general corporate purposes, the company said.

Price: 304.45, Change: -14.72, Percent Change: -4.63