MARA acquires 6,484 BTC for $618M; proposes $700M zero-coupon convertible note offering

MARA Holdings, Inc.

Acquired 6,484 bitcoin for $618.3M ($95,352 avg) during Oct 1–Nov 30, 2024.
Proposes $700M 0.00% convertible senior notes due 2031; underwriters option for $105M more.
Net proceeds: up to $50M to repurchase existing 2026 convertible notes; balance for bitcoin and corporate.
Notes are unsecured, zero-coupon, convertible into cash/stock at MARA's election; redeemable after June 2029.

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