secwatch.observer — SEC 8-K summary
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Issuer:     MARA Holdings, Inc. (MARA)
CIK:        0001507605
Form:       8-K
Filed at:   2024-12-04T23:59:59+00:00
Accession:  0001493152-24-048704
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MARA closes $850M zero-coupon convertible notes due 2031; proceeds to buy bitcoin and repurchase $51M of 2026 notes
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- Aggregate principal $850M; initial purchasers have option for additional $150M within 13 days.
- Net proceeds ~$835.1M; ~$48M used to repurchase ~$51M of existing 2026 convertible notes.
- Remainder to acquire additional bitcoin and for general corporate purposes including working capital and acquisitions.
- Notes convertible at initial rate of 28.9159 shares per $1,000 principal (~$34.58/share), a 40% premium over reference price of $24.70.
- Notes bear zero regular interest; mature June 1, 2031; redeemable after June 5, 2029 if stock exceeds 130% of conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1507605/000149315224048704/0001493152-24-048704-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1507605/000149315224048704/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-048704

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