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.