Marathon Digital Holdings, Inc. Announces Pricing of Oversubscribed Offering of Convertible Senior Notes
Proceeds to be used primarily to acquire bitcoin and for general corporate purposes
Fort Lauderdale, FL, Aug. 12, 2024 (GLOBE NEWSWIRE) — Marathon Digital Holdings, Inc. (NASDAQ:MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced the pricing of its offering of $250 million aggregate principal amount of 2.125% convertible senior notes due 2031 (the “notes”). The notes will be sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). MARA also granted to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $50 million aggregate principal amount of the notes. The option to purchase additional notes was upsized from the previously announced option to purchase $37.5 million aggregate principal amount of notes. The offering is expected to close on August 14, 2024, subject to satisfaction of customary closing conditions.