There has been rumors going around that Coinbase could potentially go public through a reverse merger with Jade Art Group (JADA). Most people speculate that the SPAC will choose Coinbase.
Jade Art Group said a reverse merger is in the works and strong rumors are leading to the company involved being Coinbase. Coinbase is currently valuated at $8 billion dollars and JADA is currently trading at $0.16 cents. After the merger, the evaluation of JADA will be anywhere from $16 to $40 range.
Even if this company is not Coinbase, I predict a reverse merger will send JADA stock to $1+ regardless.
Tongji Healthcare Group ($TONJ) was another sub penny stock that went from $0.02 to $4 after the reverse merger. Joseph Arcaro was involved with this merger, The best part is that Arcaro owns 380 million shares of $JADA.
Coinbase IPO
With the possibility of Coinbase not going public through a reverse merger, there are still other options. A direct listing would be another way Coinbase could come to market.
Coinbase has reshuffled its board, adding fuel to rumors that the massive cryptocurrency exchange could soon be going public. According to reports, the company, valued at more than $8 billion, is looking to go public.
Coinbase has started plans to go public, according to a report by Reuters from earlier this year. While the company hasn’t registered its intention with the SEC, it could pursue a listing later this year or early next year, sources familiar with the matter. The sources suggested that Coinbase may go public through a direct listing instead of an IPO.
In a direct listing, a company does not sell new shares as it does in an IPO and existing investors are not bound by lock-up restrictions on when they can divest their holdings following the market debut.
