secwatch.observer — SEC 8-K summary
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Issuer:     MARA Holdings, Inc. (MARA)
CIK:        0001507605
Form:       8-K
Filed at:   2023-09-08T23:59:59+00:00
Accession:  0001493152-23-032039
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marathon exchanges $417M of 1% convertible notes for ~26.2M new shares
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- Exchanged $417M aggregate principal of 1.00% Convertible Senior Notes due 2026 for ~26.2M newly issued common shares.
- After exchange, approximately $331M of notes remain outstanding; Marathon receives no cash proceeds.
- Exchange reduces annual interest expense by ~$4.17M but dilutes existing shareholders by ~15% based on pre-exchange shares.
- Transaction completed via private negotiated exchange with certain note holders under Section 4(a)(2) of the Securities Act.
- Shares priced using September 7, 2023 closing price; final share count subject to adjustment over several days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1507605/000149315223032039/0001493152-23-032039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1507605/000149315223032039/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-032039

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