Mara Holdings Shares Rise on Bitcoin Sales, Senior Note Repurchase Agreements
-
By Elias Schisgall
Shares of Mara Holdings rose after the company agreed to buy back $1 billion worth of outstanding senior notes using proceeds from the sale of $1.1 billion worth of bitcoin.
Shares were up 12% to $9.25 in Thursday morning trading. The stock has fallen 33% over the past year.
The digital energy and infrastructure company on Thursday said it had agreed to buy back $367.5 million in aggregate principal amount of senior notes due 2030 and $633.4 million worth of notes due 2031.
The company is repurchasing the notes at a discount, saving roughly $88.1 million before transaction costs, it said.
The repurchases are expected to be funded through the company's sale of 15,133 bitcoin for around $1.1 billion in aggregate. The bitcoin sales took place between March 4 and March 25.
"By retiring over $1 billion of face value debt at a discount, we captured approximately $88 million in value that would otherwise have been lost, reduced potential shareholder dilution, and leveraged our bitcoin holdings to meaningfully de-lever the balance sheet on our terms," Chief Executive Fred Thiel said.
"This transaction enhances financial flexibility and increases strategic optionality as we expand beyond pure-play bitcoin mining into digital energy and AI/HPC infrastructure," Thiel added.
Write to Elias Schisgall at elias.schisgall@wsj.com
source: https://www.tradingview.com/news/DJN_DN20260326007131:0-mara-holdings-shares-rise-on-bitcoin-sales-senior-note-repurchase-agreements/
Hello! It looks like you're interested in this conversation, but you don't have an account yet.
Getting fed up of having to scroll through the same posts each visit? When you register for an account, you'll always come back to exactly where you were before, and choose to be notified of new replies (either via email, or push notification). You'll also be able to save bookmarks and upvote posts to show your appreciation to other community members.
With your input, this post could be even better 💗
註冊 登入