MARA Shares Plunged 12% after Launching $850 Million Private Offering of Convertible Notes

MT Newswires Live
2025/07/23

MARA Holdings (MARA) said Wednesday it has launched a private offering of $850 million in 0% convertible senior unsecured notes due 2032 to qualified institutional buyers.

Shares of the company fell 12% in morning trading.

Initial purchasers have been granted a 13-day option to buy up to an additional $150 million in notes.

Proceeds will be used in part to redeem $50 million of MARA's 1% convertible senior notes due 2026, with the remaining proceeds to be allocated for capped call transactions, bitcoin acquisitions and general corporate purposes.

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