MARA Holdings (MARA) has announced a private offering of $700 million in convertible senior notes, due in 2030, with the option for buyers to purchase an additional $105 million in notes. The offering will be available to qualified institutional buyers.
A portion of the proceeds, up to $200 million, will be used to repurchase part of its 2026 convertible notes. The remaining funds will be directed towards further bitcoin (BTC) purchases, business expansion, strategic acquisitions, and debt management.
The convertible notes will mature in 2030 and can be converted into cash or shares at the company’s discretion. Interest payments will be made semi-annually, though the final terms are yet to be disclosed.
The news was met with a negative response from the market, causing MARA’s share price to drop by 5%, reaching $19.97 in pre-market trading.
This move by MARA follows similar initiatives by other companies, such as MicroStrategy (MSTR), to raise capital for expanding their bitcoin holdings and business operations.
