Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares are trading lower Friday. The company announced that it has entered into exchange agreements with certain holders of its 1.00% Convertible Senior Notes for newly issued shares of stock.
What To Know:
Marathon Digital Holdings announced that the exchange involves approximately $417 million aggregate principal amount of the notes for an aggregate of approximately 26.2 million newly issued shares of Marathon common stock.
The final number of shares that Marathon will issue has not yet been determined.
Marathon Digital Holdings will also pay investors in cash for accrued and unpaid interest on the exchanged notes.
After completing the exchanges, approximately $331 million aggregate principal amount of the convertible senior notes will remain outstanding.
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MARA Price Action: According to Benzinga Pro, Marathon Digital Holdings shares are down 11.8% at $10.91 at the time of publication.
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