Techub News reported that bitcoin mining company MARA has announced the completion of the issuance of $0.00% convertible preferred notes due 2030. The total principal amount of the notes issued in this offering is $100 million, with net proceeds from the note sale of approximately $98 million after discounts and commissions to the initial purchasers, but excluding estimated offering expenses payable by MARA.
MARA expects to use approximately $19.9 million of the net proceeds from the note sale to repurchase in privately negotiated transactions the existing $21.2 million convertible notes due 2026, with the remaining net proceeds to be used to acquire additional bitcoins and for general corporate purposes.
