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MARA Holdings Completes $850 Million Convertible Senior Notes Offering
- Client News
- December 4, 2024
Practices
Paul, Weiss advised MARA Holdings Inc. in a Rule 144A offering of $850 million aggregate principal amount of 0.00% convertible senior notes. The company also granted the initial purchasers a 13-day overallotment option to purchase up to $150 million in aggregate principal amount of the notes. The joint bookrunning managers for the offering were J.P. Morgan and Barclays. The company expects to use the net proceeds to acquire additional bitcoin, to repurchase $51 million of its existing convertible notes and for general corporate purposes.
The Paul, Weiss team was led by corporate partners Luke Jennings and John Kennedy, and included tax partner Brian Krause and counsel Samir Kurani.