What does moves mean?
The move preceded the firm’s highly anticipated public market venture.
Coinbase, which filed a confidential S-1 in mid-December, said on Monday it will give shareholders more details about its secondary market launch.
The message stated, “You will receive an e-mail on Monday, January 25, with details such as how you can access the market on the Nasdaq Special Market, which stocks are suitable for trade and how the market will function.”
The move will likely allow current and former employees who have gained stock in the firm to sell shares.
Nasdaq Private Market offers services to companies prior to the public offering, including “controlled liquidity programs for pre-public offering companies that want to create secondary capital for shareholders and investors”.
Coinbase is expected to touch the public markets through direct listing rather than a standard IPO. According to data compiled by The Block, the first opening is expected to attract considerable attention.