2 days Ago By Defense World Staff
MARA Holdings, Inc. (NASDAQ: MARA) has successfully concluded its private offering of 0.00% convertible senior notes due 2030 on November 20, 2024.
The notes, totaling $1 billion in aggregate principal amount, were sold under a purchase agreement with Initial Purchasers including J.P. Morgan Securities LLC and Barclays Capital Inc.
The notes were issued at 100% of their principal amount, generating approximately $980 million in net proceeds for MARA after accounting for discounts and commissions. A significant portion of the proceeds – around $199 million – is earmarked for repurchasing $212 million of the company’s existing convertible notes due 2026 through privately negotiated transactions. The remainder of the funds will be utilized for acquiring additional Bitcoin and for general corporate purposes such as working capital, strategic acquisitions, expanding existing assets, and debt repayment.
Additionally, MARA entered into an indenture for the notes with U.S. Bank Trust Company, National Association, as trustee, outlining terms including special interest payments, maturity date, conversion options, and redemption terms.
The offering falls under exemptions from registration requirements provided by the Securities Act, with conversions settled in cash, common stock, or a combination of both at MARA’s discretion. For further details on the offering, the full Indenture and a press release detailing the completion of the notes offering are accessible on the company’s Form 8-K filing with the Securities and Exchange Commission dated November 20, 2024. Investors are encouraged to review the associated risks and forward-looking statements outlined in MARA’s regulatory filings for a comprehensive understanding of the factors affecting future outcomes and financial performance.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read MARA’s 8K filing here . About MARA ( Get Free Report ) MARA Holdings, Inc operates as a digital asset technology company that mines digital assets with a focus on the bitcoin ecosystem in United States.
The company was formerly known as Marathon Digital Holdings, Inc and changed its name to MARA Holdings, Inc in August 2024. MARA Holdings, Inc was incorporated in 2010 and is headquartered in Fort Lauderdale, Florida. See Also Five stocks we like better than MARA Insider Buying Explained: What Investors Need to Know Why Palo Alto Networks’ Multi-Year Uptrend is Far From Over There Are Different Types of Stock To Invest In 3 Rock-Solid Buying Opportunities in the Market Right Now What Investors Need to Know About Upcoming IPOs TJX Companies Stock Poised to Hit a New High This Year.
