secwatch.observer — SEC 8-K summary
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Issuer:     MARA Holdings, Inc. (MARA)
CIK:        0001507605
Form:       8-K
Filed at:   2024-12-03T23:59:59+00:00
Accession:  0001493152-24-048393
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MARA prices $850M zero-coupon convertible notes due 2031; proceeds to buy bitcoin, repurchase 2026 notes
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- $850M aggregate principal of 0.00% convertible notes due 2031; net proceeds ~$835.1M (or ~$982.5M with greenshoe).
- Initial conversion price ~$34.58 per share, ~40% premium to VWAP of $24.70 on Dec 2.
- Uses ~$48M of net proceeds to repurchase ~$51M of existing 2026 convertible notes; remainder to acquire bitcoin and general corporate purposes.
- Notes mature June 1, 2031, redeemable after June 5, 2029 if stock >=130% conversion price.
- Offering expected to close Dec 4, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1507605/000149315224048393/0001493152-24-048393-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1507605/000149315224048393/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-048393

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