Bitcoin market place Coinbase 114,850,769 shares class “A” on the exchange Nasdaq under direct listing, according to the updated request S-1 to form the Securities and Exchange Commission (SEC).
The prospectus assumes the so-called ” shelf registration “, which allows additional placement of securities at a later date.
The document provides a weighted average price per share of $ 343.58 based on trades on the Nasdaq Private Market. This roughly corresponds to the values previously mentioned by Bloomberg sources, based on which the exchange could be estimated at $ 90 billion
Coinbase representatives in the prospectus noted that the final price of $ 343.58 was formed in the corridor of $ 200-375.01 and may have a weak connection with the one at which trading on the public market will begin.
At the time of writing, the futures contract for Coinbase shares on the FTX derivatives exchange is trading at $ 436.28. Traders value the trading platform business at $ 110.8 billion based on the 254 million issued securities.
Recall that if the market successfully confirms such a high valuation of Coinbase, its founder Brian Armstrong will be able to earn an additional $ 3.2 billion.
According to the SEC filed S-1 form , Armstrong owns 2.8 million class A shares and 36.8 million class B shares. According to the Bloomberg Billionaires Index , their value is estimated at $ 15 billion.