MARA Holdings, a company focused on digital energy technologies, has announced plans to sell $850 million in convertible bonds.
Details of the Bond Sale
The bonds will be offered exclusively to qualified institutional investors under Rule 144A of the Securities Act of 1933. Initial purchasers will also be given the option to purchase an additional $150 million of notes within 13 days of the initial issuance.
Use of Proceeds from the Sale
MARA plans to use $50 million to buy back some of the 1% interest bonds due in 2026 currently in circulation. The remainder will be used to fund capped calls, purchase additional Bitcoin, and for general corporate purposes including capital, debt repayments, and strategic acquisitions.
About MARA Holdings
MARA Holdings develops digital energy technologies aiming to transform energy systems. The company invests in digital infrastructure to enhance energy efficiency in areas such as artificial intelligence and high-performance computing. It also supports grid stability by converting excess energy into digital capital.
The sale of convertible bonds by MARA Holdings aims to raise funds for various strategic initiatives, including Bitcoin purchases and current bond repurchases.
