MARA Holdings, Inc. Announces Pricing of Oversubscribed and Upsized Offering of Zero-Coupon Convertible Senior Notes due 2030
Summary
Proceeds to be used primarily to acquire bitcoin and repurchase existing convertible notes due 2026Fort Lauderdale, FL, Nov. 18, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (MARA or the Company), a global leader in leveraging digital asset compute to support the energy transformation, today announced the pricing of its offering of $850 million aggregate principal amount of 0.00% convertible senior notes due 2030 (the notes). Subject to certain conditions, on or after March 5, 2028, MARA may redeem for cash all or any portion of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, if the last reported sale price of MARA common stock has been at least 130% of the conversion price then in effect for a specified period of time ending on, and including, the trading day immediately before the date MARA provides the notice of redemption. MARA secures the worlds preeminent blockchain ledger and supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value.Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. The words anticipate, believe, continue, could, estimate, expect, intend, may, plan, potential, predict, project, should, target, will, would, and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including uncertainties related to market conditions and the completion of the offering, uncertainties related to the satisfaction of closing conditions for the sale of the notes, the other factors discussed in the Risk Factors section of MARAs Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the SEC) on February 28, 2024, as amended on May 24, 2024, the Risk Factors section of MARAs Quarterly Report on Form 10-Q filed with the SEC on August 1, 2024, the Risk Factors section of MARAs Quarterly Report on Form 10-Q filed with the SEC on November 12, 2024 and the risks described in other filings that MARA may make from time to time with the SEC.