MARA Holdings, Inc. (MARA): debt financing — MARA Holdings Completes $950 Million Convertible Notes Offering Due 2032

MARA Holdings, Inc.

MARA sold $950 million aggregate principal of 0.00% convertible senior notes due 2032, with an option for up to $200 million more.
Net proceeds were approximately $940.5 million; $18.3 million used to repurchase $19.4 million of existing 1.00% 2026 convertible notes.
Approximately $36.9 million paid for capped call transactions with initial purchasers to reduce potential dilution.
Remaining net proceeds expected to be used to acquire additional bitcoin and for general corporate purposes.
Notes are convertible at initial rate of 49.3619 shares per $1,000 principal, equivalent to ~$20.26 per share, maturing August 1, 2032.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 1.0

MARA Holdings, Inc. incurred convertible notes of $950 million with U.S. Bank Trust Company, National Association at 0.00% maturing August 1, 2032.

Instrument: convertible notes
Principal: $950 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0.00%
Maturity: August 1, 2032
Event: incurrence

Exact text from the filing

institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The aggregate principal amount of notes sold in the offering was $950 million. The Company also granted the Initial Purchasers an option to purchase up to an additional $200 million aggregate principal amount of the notes within a 13-day period beginning

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MARA Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950142-25-002027

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