MARA Holdings Inc stock drops as company announces $850m private offering.

MARA Holdings Inc. (MARA) shares are down 4.98% after announcing a proposed private offering of $850 million in convertible senior notes due 2032. The company plans to use up to $50 million to repurchase existing notes and the remainder for general corporate purposes and acquiring Bitcoin. MARA is set to report Q2 earnings on July 29.

MARA Holdings Inc. (MARA) shares have experienced a 4.98% drop following the company's announcement of a proposed private offering of $850 million in convertible senior notes due 2032. The company expects to use up to $50 million of the net proceeds to repurchase existing 1.00% convertible senior notes due 2026, with the remainder allocated for general corporate purposes, acquiring Bitcoin, and other strategic initiatives [1].

MARA Holdings, a leading digital energy and infrastructure company, aims to offer the notes to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended. The notes will be unsecured and senior obligations of MARA, with a maturity date of August 1, 2032, unless earlier repurchased, redeemed, or converted in accordance with their terms [1].

The company's announcement comes ahead of its Q2 earnings report scheduled for July 29. Investors are closely monitoring the potential impact of the offering on the company's financial health and stock performance. MARA's forward-looking statements, including the completion, size, and timing of the offering, as well as the anticipated use of proceeds, are subject to various risks and uncertainties, such as market conditions and the completion of the offering on the anticipated terms [1].

References:

[1] https://ir.mara.com/news-events/press-releases/detail/1402/mara-holdings-inc-announces-proposed-private-offering-of-850-million-of-zero-coupon-convertible-senior-notes