WASHINGTON (dpa-AFX) - Mara Holdings, Inc. (MARA), a digital asset technology company, announced on Monday that it plans to offer $700 million aggregate principal amount of Zero coupon convertible senior notes, due 2031 in a private offering.
The company expects to use up to $50 million of the net proceeds from the sale of the notes to repurchase a portion of its existing convertible notes, due 2026. The remainder will be used to acquire additional bitcoin and for general corporate purposes.
The notes will be unsecured, senior obligations of MARA. The notes are not expected to bear interest, other than special interest in limited circumstances, and the principal amount of the notes is not expected to accrete.
MARA also aims to grant the initial purchasers of the notes an option to purchase up to an additional $105 million aggregate principal amount of the notes.
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