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Coinbase Issued Stock Warrants To Silicon Valley Bank In 2014
Summary: The Coinbase prospectus shows that the company has signed an agreement with Silicon Valley Bank (SVB) to access U.S. dollar payment service in 2014. As part of the agreement, Coinbase provided SVB with stock warrants, giving SVB a right to purchase more than 400,000 Class B common shares at a price slightly above $1, while ...
The Coinbase prospectus shows that the company has signed an agreement with Silicon Valley Bank (SVB) to access U.S. dollar payment service in 2014.
As part of the agreement, Coinbase provided SVB with stock warrants, giving SVB a right to purchase more than 400,000 Class B common shares at a price slightly above $1, while allowing Coinbase to send and receive U.S. dollars through the banking system.
The prospectus shows that the voting rights of Class B shares are 20 times that of Class A shares listed on the Nasdaq. However, Class B shares can be converted into Class A on a one-to-one basis at any time. Once publicly traded, Class A stocks may be more liquid.
By Mary Liu
Tags: Coinbase,Nasdaq,Silicon Valley Bank
Link: Coinbase Issued Stock Warrants To Silicon Valley Bank In 2014 [Copy]
