This article has been republished with permission from Binance News.
According to Foresight News, Bitcoin mining company Marathon Digital has announced that it has signed a private exchange agreement with certain holders of its 1.00% convertible senior notes due 2026. The agreement will see the exchange of approximately $417 million in principal amount of notes held by these holders for a total of around 26.2 million newly issued Marathon common shares. Marathon will issue the 26.2 million common shares without receiving any cash proceeds from the issuance, and the final number of shares to be issued will be determined within a few days. Marathon will also pay investors the accrued and unpaid interest on the exchanged notes in cash. After the completion of the exchange, approximately $331 million in principal amount of notes will remain outstanding. The exchange may affect the market price of Marathon’s common shares.