secwatch.observer — SEC 8-K summary
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Issuer:     MARA Holdings, Inc. (MARA)
CIK:        0001507605
Form:       8-K
Filed at:   2024-11-21T23:59:59+00:00
Accession:  0001493152-24-047078
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 $1B 0% convertible note offering due 2030; net proceeds ~$980M for bitcoin buys and debt repurchase
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- $1B aggregate principal of 0% convertible senior notes due 2030 sold, including $150M from full greenshoe exercise.
- Initial conversion price ~$25.91 per share, a ~42.5% premium over the $18.18 reference price.
- Net proceeds ~$980M; ~$199M to repurchase $212M of existing 2026 convertible notes, remainder for bitcoin and corporate use.
- Notes unsecured, mature March 1, 2030; redeemable after March 5, 2028 if stock trades at 130% of conversion price.
- Holders can require repurchase on Dec 1, 2027 or upon fundamental change at 100% principal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1507605/000149315224047078/0001493152-24-047078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1507605/000149315224047078/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-047078

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