Coinbase has reported over 114 million Class A shares ahead of a direct listing.

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Even before Coinbase publicly filed its S-1, news of the crypto exchange going public had captivated the market. In the most recent progress, the crypto platform amended Form S-1.

On March 17, the US Securities and Exchange Commission published a filing signalling Coinbase’s intention to sell 114.9 million shares in a direct listing.

According to the new paper, the low and high trading rates of the Class A and Class B common stock in private purchases during the first quarter were $200 and $375.01, respectively. The volume-weighted price per share for the first quarter was $343.58, according to the revised S-1 filing. The total number of shares being sold is equal to 114,850,769, with a proposed overall offering price of $943,218,155.

Furthermore, Coinbase stated that it has applied for Nasdaq listing of its Class A common stock under the symbol “COIN,” and that Coinbase “will be viewed as an emerging growth company” before this listing is completed.

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However, the firm confirmed that there is actually no public market for Class A common stock and that all Class A and B common stocks have a tradition of dealing in private transactions only. The start date of trade is still undisclosed.

In terms of Coinbase’s growth, the previous S-1 reported that the company raised $1.1 billion in sales last year. As of December 31, 2020, Coinbase users have traded over $456 billion in assets and deposited over $90 billion in assets on the network since its inception.

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