PANews reported on November 19 that according to CoinDesk, Bitcoin listed mining company MARA Holdings (MARA) has increased its previously announced convertible senior notes issuance from $700 million to $850 million. The company also increased the option amount for initial purchasers to purchase additional bonds from $105 million to $150 million. The offering is expected to end on November 20 and is a private placement for qualified institutional buyers. The note will mature on March 1, 2030, will not be included in regular interest, and can be converted into cash, MARA common stock, or a combination of both at MARA's discretion. The initial conversion price is approximately $25.91, a 42.5% premium to MARA's current share price of $18.18. The funds raised are expected to be approximately $833 million, of which $199 million will be used to repurchase MARA's existing $212 million convertible notes in 2026. The rest will be used for Bitcoin (BTC) acquisitions, asset expansion, and general corporate purposes.
Earlier yesterday, it was reported that MARA plans to raise US$700 million by issuing convertible senior notes to purchase more Bitcoin .
