secwatch.observer — SEC 8-K summary
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Issuer:     MARA Holdings, Inc. (MARA)
CIK:        0001507605
Form:       8-K
Filed at:   2024-08-14T23:59:59+00:00
Accession:  0001493152-24-032433
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1507605/000149315224032433/0001493152-24-032433-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1507605/000149315224032433/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-032433

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