Alaska Native Company Arctic Slope Regional to Acquire Coinstar, Clearing $750M Debt
Coinstar, a prominent crypto kiosk operator, is being acquired by Arctic Slope Regional Corporation (ASRC) in a deal that will eliminate its substantial debt burden. The transaction, previously undisclosed, involves the repayment of over $750 million in principal plus accrued interest by early January, according to a private notice to bondholders seen by Bloomberg.
ASRC, an Alaska Native investment group with diverse holdings in construction, petroleum, and government services, emerged as the buyer. The company was established in 1972 as part of the Alaska Native Claims Settlement Act, which allocated land and financial compensation to Indigenous communities. This acquisition removes refinancing risks for Coinstar's whole business securitization bonds, which were backed by the company's operational cash flow.
