MARA Announces Pricing Of Upsized Offering Of $950 Mln Of 0.00% Convertible Senior Notes Due 2032

(RTTNews) - MARA Holdings Inc. (MARA) announced the pricing of its upsized offering of $950 million aggregate principal amount of 0.00% convertible senior notes due 2032. The notes will be sold in a private offering.

MARA also granted to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $200 million aggregate principal amount of the notes.

The offering is expected to close on July 25, 2025.

MARA estimates that the net proceeds from the sale of the notes will be approximately $940.5 million (or approximately $1.14 billion if the initial purchasers exercise in full their option to purchase additional notes), after deducting the initial purchasers discounts and commissions but before estimated offering expenses payable by MARA.

MARA expects to use approximately $18.3 million of the net proceeds from the sale of the notes to repurchase approximately $19.4 million in aggregate principal amount of its existing 1.00% convertible senior notes due 2026 in privately negotiated transactions with the remainder of the net proceeds to be used to pay about $36.9 million cost of the capped call transactions, to acquire additional bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations.