** Coinbase Global Inc shares down ~2% premarket as crypto exchange operator looks to raise capital
** Stock threatening to fall for 5th straight session, which would be longest losing streak since last month's public debut
** After the bell Mon, COIN said offering privately $1.25 bln 5-yr convertible notes
** Co plans to use net offering proceeds for general corp purposes, including working capital, capex, and pay cost of capped call transactions
** It said capital raise represents opportunity to bolster its "already strong balance sheet with low cost capital that maintains operating freedom and minimizes dilution for Coinbase’s stockholders"
** Co at end-Mar had ~$2 bln of cash and equivalents, per 10-Q filing
** COIN shares on Mon fell 3.9% to $248.24, and hit record low $238.25, after series of tweets by Tesla Inc chief Elon Musk clipped price of bitcoin.
** COIN's stock off 35% from Apr 14 opening price of $381 and below its Nasdaq-set $250 direct listing reference price
** COIN current market value is ~$52 bln, per Refinitiv data
(Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper.tr.com@reuters.net lance.tupper@tr.com 1-332-219-1430))
