Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR) and Semler Scientific (SMLR).

MARA Holdings (MARA) has increased its previously announced convertible note offering from $700 million to $850 million.

It has also raised the option for initial purchasers to acquire extra notes to $150 million from $105 million. The offering is expected to close on Nov. 20, and is a private offering directed at qualified institutional buyers.

The notes maturing on March 1, 2030, will not bear regular interest and can be converted into cash, shares of MARA's common stock, or a combination of both at MARA's discretion.

The initial conversion price is approximately $25.91, which is a 42.5% premium over MARA's current stock price, which is currently $18.18.

The proceeds are estimated to be around $833 million, with $199 million being used to repurchase the $212 million of MARA's existing convertible notes for 2026. The rest will be allocated for bitcoin (BTC) acquisition, asset expansion, and general corporate purposes.

MARA is the second largest publicly traded holder of bitcoin, holding 27,562 BTC. This announcement comes after several other bitcoin holders companies, specifically MicroStrategy (MSTR) and Semler Scientific (SMLR), purchased more bitcoin.

MARA's shares are up nearly 2% in pre-market trading after falling nearly 14% on Monday.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。