MARA Holdings, Inc. Announces Plans to Private Market 700 million USD Convertible Senior Notes
2024-11-18 12:23:46
MARA Holdings, Inc. today announced its intention to issue a private placement of $700 million of aggregate principal in the 2030 maturing convertible senior notes ("Notes"), with proceeds primarily used to purchase bitcoin, repurchase existing convertible notes maturing in 2026, and for general corporate purposes. MARA expects to use up to $200 million of the net proceeds from the sale of the Notes to repurchase a portion of its existing convertible notes maturing in 2026 ("Existing 2026 Convertible Notes") through a privately negotiated transaction, with the remaining net proceeds used to purchase additional bitcoin and for general corporate purposes, which may include Working Funds, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations.
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