CoinVoice has recently learned that the Bitcoin mining company MARA plans to privately place $700 million of 0.00% convertible preferred notes (due in 2031) to qualified institutional buyers. MARA also expects to grant the initial purchasers of the notes an option to purchase additional notes totaling up to $105 million within 13 days from the date of the initial issuance of the notes.
MARA expects to use up to $50 million of the net proceeds from the sale of the notes to repurchase some of its existing convertible notes due in 2026 (the 'Existing 2026 Convertible Notes') through privately negotiated transactions, with the remaining net proceeds used to purchase more Bitcoin and for general corporate purposes. [Original link]
