Coinbase agrees to buy Deribit for $700 million cash plus 10,997,881 shares
Coinbase Global signed a Share Purchase Agreement on May 8, 2025 to acquire all outstanding shares of Deribit, paying $700 million in cash and issuing 10,997,881 shares of Coinbase Class A common stock, subject to adjustments and escrow. Closing depends on regulatory approvals and other conditions, with an outside date of November 8, 2025. The deal adds a sizable acquisition and new share issuance that shareholders should track.
Key points
- Consideration: $700 million in cash plus 10,997,881 shares of Coinbase Class A common stock, subject to adjustments and a 15-month indemnity escrow
- Outside date for closing is November 8, 2025; Coinbase pays a $100 million termination fee if the deal fails certain regulatory approvals
- Deribit shareholders receiving more than 75% of the new shares agreed to lock-ups, with 50% released at 90 days and 50% at 180 days after closing
The filing
Written by AI on Nov 8, 2026, 1:30 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 08, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.