Marathon Digital Holdings shares are trading lower after the company entered into exchange agreements with certain holders of its 1.00% Convertible Senior Notes for newly issued shares of stock.
Portfolio Pulse from Benzinga Newsdesk
Marathon Digital Holdings has entered into exchange agreements with holders of its 1.00% Convertible Senior Notes for newly issued shares of stock. This has led to a decrease in the company's share price.
September 08, 2023 | 4:59 pm
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Marathon Digital Holdings' shares are trading lower after the company entered into exchange agreements for its 1.00% Convertible Senior Notes for new stock shares.
The company's decision to exchange its 1.00% Convertible Senior Notes for newly issued shares of stock has led to an increase in the supply of shares, which can put downward pressure on the stock price. This is likely the reason for the decrease in Marathon Digital Holdings' share price.
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