MARA Holdings, Inc. revealed a $700 million private offering of convertible senior notes on Monday to support its strategy for acquiring Bitcoin and restructuring its operations. According to the company’s recent press release, MARA intends to use the proceeds primarily for acquiring additional Bitcoin, repurchasing 2026 convertible notes, and general corporate purposes. The company retains the right to redeem portions of the notes after 2028 under specific conditions. This offering also allows holders to convert the notes into cash, MARA common stock, or a combination of both.
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