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]




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