MARA plans to issue zero-coupon convertible senior notes to raise $700 million to buy BTC
2024-12-02 11:56:59
Official news nasdaq listing bitcoin miners mara announces plansdesk3cryptocurrencydesktopCrypto News
According to official news, MARA, a Nasdaq-listed bitcoin miner, announced that it intends to issue zero-coupon convertible senior notes to raise $700 million, with the proceeds primarily used to purchase bitcoin and repurchase existing convertible notes due 2026. In addition, MARA expects to use the net proceeds from the sale of notes up to $50 million to repurchase a portion of its existing convertible notes due 2026 through privately negotiated transactions. The remaining net proceeds will be 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 debt.
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