Coinbase files shelf registration statement with SEC
Coinbase Global Inc (NASDAQ:COIN) has filed a shelf registration statement with the Securities and Exchange Commission (SEC). This shelf registration statement is intended to be used for potential prospective offerings which may include the sale of new securities for general corporate purposes.
The company explains that while it has no immediate plans to offer securities at this time, by filing the shelf registration statement now, it will be able to offer and sell securities in the future should it choose to do so.
Coinbase comments:
“We have taken a thoughtful approach to our capital structure over the years. Our goal has been, and remains, to raise capital at the lowest cost possible to our stockholders. We expect that this shelf registration statement will enable us to issue securities in a much shorter time frame, potentially in a matter of days, which may enable us to better time the market and take advantage of volatility or short windows of favorable market conditions should we choose to do so”.
In closing, Coinbase says the shelf registration statement is an important tool that enhances flexibility and better enables Coinbase to prospectively access the capital markets quickly and efficiently when needed or when market conditions are optimal.