TechFlow News – According to an official announcement, Bitcoin mining company MARA Holdings (Nasdaq: MARA) completed the issuance of $850 million in zero-coupon convertible senior notes due 2031 on December 4. After deducting underwriting fees, the net proceeds were approximately $835.1 million, of which about $48 million will be used to repurchase convertible bonds maturing in 2026, with the remainder primarily allocated toward purchasing Bitcoin and for general corporate purposes.
The initial conversion price of the newly issued convertible notes is set at $34.583 per share, representing a 40% premium to the weighted average price of $24.7022 per share on December 2. MARA has also granted the initial purchasers an option to purchase up to an additional $150 million in notes within 13 days.
