MARA to raise $1 BILLION at 0.0% interest to buy more Bitcoin after initial $750m offer was oversubscribed
Posted: Nov 19, 2024
- MARA Holdings, Inc. (NASDAQ: MARA) announced the pricing of $850 million aggregate principal amount of 0.00% convertible senior notes due 2030
- Proceeds to be primarily used to acquire bitcoin and repurchase existing convertible notes due 2026
- Notes will be unsecured, senior obligations and will not bear regular interest
- Holders can require MARA to repurchase their notes in certain circumstances
- Notes convertible into cash, shares of MARA's common stock, or a combination at MARA's election
- Conversion rate for notes initially 38.5902 shares of MARA common stock per $1,000 principal
- Estimated net proceeds from sale of notes approximately $833 million
- MARA expects to use proceeds to repurchase existing notes and acquire additional bitcoin
- Notes are being offered to qualified institutional buyers
- Forward-looking statements indicate potential risks and uncertainties for investors
- MARA contact information: Telephone: 800-804-1690, Email: [email protected]
Stay ahead of the market with AI stock alerts & AI summaries of the latest earnings, stock ideas for free with Fluid Bot. Sign up now!