Mara Prices Upsized $950M Offering of Convertible Senior Notes

MARA Holdings announced the pricing of its upsized offering of $950 million aggregate principal amount of 0.00% convertible senior notes due 2032, according to a statement.

• Notes will be convertible into cash, shares of co’s common stock, or a combination of the two, at MARA’s election
  • Initial conversion rate is 49.3619 shares of MARA common stock per $1,000 principal amount of notes
• Co. expects to use about $18.3 milion of the net proceeds to repurchase about $19.4 million existing 1.00% convertible senior notes due 2026
  • Remaining proceeds to be used to pay the about $36.9 million cost of the capped ...