secwatch.observer — SEC 8-K summary
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Issuer:     MARA Holdings, Inc. (MARA)
CIK:        0001507605
Form:       8-K
Filed at:   2023-06-09T23:59:59+00:00
Accession:  0001493152-23-020772
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marathon Digital closes $14.25M private placement of convertible preferred stock
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- Gross proceeds of ~$14.25M from 15,000 Series A convertible preferred shares sold at $952.38 each (5% OID).
- Each share convertible into common at $14.52/share, subject to stockholder approval of authorized share increase.
- Holders may require redemption at 105% of stated value after stockholder approval or 90 days post-closing, until day 120.
- H.C. Wainwright acted as placement agent, receiving 4% fee plus $85,000 accountable expenses.
- Proceeds used for general corporate purposes if shares converted or not redeemed after 120 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1507605/000149315223020772/0001493152-23-020772-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1507605/000149315223020772/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-020772

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer