Coinbase Global’s Direct Listing on Nasdaq

Fenwick & West LLP advised Coinbase Global on the deal while Latham & Watkins represented the financial advisors.

Coinbase Global, Inc., a leading provider of end-to-end financial infrastructure and technology for the cryptoeconomy, announced its pioneering direct listing on the Nasdaq Global Select Market. Coinbase is the first major crypto company to go public and the first technology company to go public through a direct listing on Nasdaq.

Coinbase’s Class A common stock began trading on Nasdaq under the ticker symbol COIN on April 14, 2021. At the open of trading, Coinbase was valued at approximately $100 billion, the second largest valuation for a technology company at the time of going public.

Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, Allen & Company LLC and Citigroup Global Markets Inc. acted as financial advisors to Coinbase.

The Fenwick transaction team included corporate partners Mark Stevens (Picture), Michael Brown, Ran Ben-Tzur and Faisal Rashid and associates Jennifer Hitchcock, Jordan Roberts, Can Sun, Annie Omata, Jacob Wittman, Sloka Tankala and Peter Li; executive compensation and employee benefits partners Shawn Lampron and Marshall Mort and associate Corinne Nhaissi; technology transactions associate Igor Voloshin; and tax partner Will Skinner and counsel Ora Grinberg.

The Latham & Watkins team included Marc Jeffe, Greg Rodgers, Benjamin Cohen, Max Schleusener and Stephen Wink. 

 

Involved fees earner: Ran Ben-Tzur – Fenwick & West LLP; Michael Brown – Fenwick & West LLP; Ora Grinberg – Fenwick & West LLP; Jennifer Hitchcock – Fenwick & West LLP; Shawn Lampron – Fenwick & West LLP; Marshall Mort – Fenwick & West LLP; Corinne Nhaissi – Fenwick & West LLP; Annie Omata – Fenwick & West LLP; Faisal Rashid – Fenwick & West LLP; Jordan Roberts – Fenwick & West LLP; William Skinner – Fenwick & West LLP; Mark Stevens – Fenwick & West LLP; Can Sun – Fenwick & West LLP; Sloka Tankala – Fenwick & West LLP; Igor Voloshin – Fenwick & West LLP; Jacob Wittman – Fenwick & West LLP; Benjamin Cohen – Latham & Watkins; Marc Jaffe – Latham & Watkins; Gregory Rodgers – Latham & Watkins; Max Schleusener – Latham & Watkins; Stephen Wink – Latham & Watkins;

Law Firms: Fenwick & West LLP; Latham & Watkins;

Clients: Allen & Company LLC; Citigroup Global Markets Ltd; Coinbase Inc.; Goldman Sachs & Co.; J.P. Morgan Securities LLC;

Author: Martina Bellini