MARA Holdings Prices $850 Million Convertible Notes Offering

MARA Holdings (MARA) said late Monday it priced an offering of $850 million of 0% convertible senior notes due 2030. The company granted the initial purchasers an option to purchase up to an additional $150 million of the notes. Proceeds from the offering, expected to close on Wednesday, will fund repurchases of $212 million in existing 2026 notes, bitcoin acquisitions, and general corporate purposes. The company said the notes are initially convertible into 38.5902 shares of its stock per $1,000 principal amount of notes, reflecting a conversion price of about $25.91 per share.