MARA Introduces $700 Million in Convertible Notes Amid Stock Decline
MARA Holdings announces a significant $700 million convertible senior note offering while planning to further its Bitcoin acquisitions.
MARA Introduces $700 Million in Convertible Notes Amid Stock Decline
MARA Holdings (MARA) has announced a private offering of $700 million in convertible senior notes due 2030. The offering will be available to qualified institutional buyers, and it includes an option for purchasers to acquire an additional $105 million in notes.
MARA plans to allocate up to $200 million of the proceeds to buy back a portion of its outstanding 2026 convertible notes.
The remaining funds will be utilized for accumulating Bitcoin (BTC) and covering other needs, including strategic acquisitions and debt repayments. The notes can be converted into cash or shares at MARA's discretion, with interest payments made semi-annually, though final terms are yet to be confirmed.
Following the announcement, MARA's share prices dropped by 5%, settling at $19.97 in pre-market trading. This offering is similar to recent announcements from Metaplanet and MicroStrategy (MSTR) regarding their own financial strategies.
