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MARA Holdings Prices $850 Million Convertible Notes Offering
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MARA Holdings Prices $850 Million Convertible Notes Offering
Nov 19, 2024 9:33 PM

04:34 AM EST, 11/19/2024 (MT Newswires) -- MARA Holdings ( MARA ) said late Monday it priced an offering of $850 million of 0% convertible senior notes due 2030.

The company granted the initial purchasers an option to purchase up to an additional $150 million of the notes.

Proceeds from the offering, expected to close on Wednesday, will fund repurchases of $212 million in existing 2026 notes, bitcoin acquisitions, and general corporate purposes.

The company said the notes are initially convertible into 38.5902 shares of its stock per $1,000 principal amount of notes, reflecting a conversion price of about $25.91 per share.

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