MARA raises convertible senior bond issuance to $850 million, part of proceeds will be used to increase bitcoin holdings
2024-12-03 03:17:53
MARA, a bitcoin miner, announced that the total principal amount of its outstanding 0.00% convertible senior notes due 2031 has been raised to $850 million (originally announced as $700 million). MARA also grants initial purchasers of the notes an option to purchase up to $150 million of the total principal amount of the notes within 13 days from the date of the notes' initial issuance. Net proceeds will be used to purchase additional bitcoins 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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