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Cryptocurrency News Articles

MARA Holdings Closes $1B Debt Offering, Plans to Use Proceeds to Buy More Bitcoin

Nov 22, 2024 at 12:48 am

MARA Holdings has successfully closed a $1 billion debt offering through zero-interest convertible senior notes maturing in 2030.

MARA Holdings Closes $1B Debt Offering, Plans to Use Proceeds to Buy More Bitcoin

MARA Holdings has closed a $1 billion debt offering, with the funds set to be primarily used for acquiring more Bitcoin.

The offering, initially set at $700 million, was expanded to a total of $1 billion due to high investor demand. The company expects to net approximately $980 million after discounts and commissions, which will be used for various purposes.

Of the raised funds, approximately $199 million will be allocated to repurchase $212 million of its existing 2026 convertible notes, while the remainder will be used to continue purchasing Bitcoin and for other general corporate purposes.

News source:crypto-economy.com

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