Bitcoin mining company MARA completes issuance of $1 billion convertible preferred notes, funds raised will be used to purchase more BTC

According to official news, the listed Bitcoin mining company MARA has completed a $1 billion convertible preferred note issuance. This includes $150 million in notes issued under purchase options granted to initial purchasers. The term of the purchase option is 13 days from the date of first issuance of the notes, with all options exercised by the initial purchasers on November 19, 2024 and additional purchases completed on November 20, 2024. These notes were sold privately to individuals who are reasonably believed to be qualified institutional buyers. The funds raised will be used for purchasing more Bitcoins and general corporate purposes which may include working capital, strategic acquisitions, expansion of existing assets as well as repayment of additional debt and other outstanding debts.