MARA Holdings, Inc. Announces Plan to Private Placement $700 Million Convertible Preferred Notes

【MARA Holdings, Inc. Announces Plan to Private Placement $700 Million Convertible Preferred Notes】Golden Finance reports that MARA Holdings, Inc. today announced its intention to privately place $700 million in principal amount of convertible preferred notes due 2030 (the "Notes"), with proceeds primarily intended for the purchase of Bitcoin, repurchase of existing convertible notes due 2026, and for general corporate purposes. MARA expects to use up to $200 million of the net proceeds from the sale of the Notes to repurchase a portion of its existing convertible notes due 2026 (the "Existing 2026 Convertible Notes") through privately negotiated transactions, with the remainder of the net proceeds being used for the purchase of additional Bitcoin and general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding liabilities.