Coinbase Announces Direct Listing Date


Coinbase says it anticipates going public with a direct stock listing in two weeks and could be the first crypto exchange to go public in the United States.

April 2, 2021 | AtoZ Markets US-based crypto exchange Coinbase expects a direct listing of its Class A shares on April 14. They will be traded on the Nasdaq under the ticker COIN.

On April 1, the SEC approved the company’s S-1 application. According to the document, the exchange will place 114,850,769 shares. In the first quarter through March 15, the weighted average price of the paper in the secondary market was $343.58 on the Nasdaq Private Market.

Related: Coinbase Delays Stock Listing Following Money Laundering Allegations

Coinbase has over 43 million users, operates in over 100 countries and employs over 1,200 employees.

Coinbase Announces Direct Listing Date
Coinbase Business Key Metrics. Data: investor.coinbase.com.

In March, the company resolved claims by the CFTC for falsifying trading activity data between January 2015 and September 2018. The fine was $6.5 million. At that time, observers called this the main reason for the transfer of the direct listing to April.

Ahead of the historic event, Coinbase has hired former senior SEC official Brett Redfern and former top executive at investment bank Morgan Stanley Ian Rooney.

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