MARA closes $300M convertible note offering; buys $249M in bitcoin immediately

MARA Holdings, Inc.

$300M aggregate principal of 2.125% convertible senior notes due 2031, net proceeds ~$292.5M.
Acquired 4,144 bitcoin for ~$249M at avg price ~$59,500 using proceeds from the offering.
Notes convertible into common stock at initial conversion price ~$18.89/share (52.9451 shares per $1,000 principal).
Notes are senior unsecured, mature Sept 1, 2031, redeemable by MARA after Sept 6, 2028 if stock price >=130% conversion price.
Remaining net proceeds to be used for additional bitcoin acquisitions and general corporate purposes.

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