Cryptocurrency exchange Coinbase has registered 114,850,769 shares of class A common stock for a direct listing on the Nasdaq stock exchange, as per an amended S-1 filing with the U.S Securities and Exchange Commission.
Coinbase announced its intention to launch an initial public offering back in December 2020 when it first filed registration forms with the SEC. By early March, the pre-market private trading price of the shares had risen as high as $375, giving the company an estimated pre-IPO valuation of around $100 billion at the time.
The updated S-1 filing suggests a volume-weighted average price per share of $343.58, based on private market transactions from the first quarter of 2021. The filing states:
“Based on information available to us, the low and high sales price per share of Class A common stock and Class B common stock (on an as-converted basis) for such private transactions during the first quarter of 2021 (through March 15, 2021) was $200.00 and $375.01, respectively. The volume weighted-average price per share for the first quarter of 2021 (through March 15, 2021) was $343.58.”
At the time of publication, Coinbase had a pre-IPO tokenized stock FTX price of $445, according to data from CoinMarketCap.
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