Marathon Digital Holdings Announces Private Exchanges Of ~$417M Of 1.00% Convertible Notes Due 2026 For Shares Of Common Stock
Portfolio Pulse from Benzinga Newsdesk
Marathon Digital Holdings, Inc. (NASDAQ:MARA) has announced private exchanges of approximately $417 million of its 1.00% Convertible Senior Notes due 2026 for about 26.2 million newly issued shares of common stock. The company will not receive any cash proceeds from the issuance of the shares. The final number of shares to be issued will be determined over a number of days. The exchanges could affect the market price of Marathon's common stock.
September 08, 2023 | 12:46 pm
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Marathon Digital Holdings is exchanging $417M of its 1.00% Convertible Senior Notes due 2026 for about 26.2M newly issued shares. This could affect the market price of Marathon's common stock.
The company's decision to exchange its Convertible Senior Notes for newly issued shares could lead to an increase in the supply of Marathon's common stock in the market. This could potentially affect the stock's price. However, the exact impact will depend on various factors including market conditions and investor sentiment towards the company.
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