Why MARA Holdings Stock Is Plummeting Today
Shares of MARA Holdings (NASDAQ: MARA) are falling on Wednesday, down 13.8% as of 2:58 p.m. ET. The drop comes as the S 500 and Nasdaq Composite gained 0.7% and 0.5%, respectively.
The Bitcoin mining company's stock is falling today after the company announced a private offering of $850 million, sparking fears of dilution.
The company announced it intends to initiate a $850 million private offering with convertible notes due in 2032. Initial purchasers may be granted an option to acquire an extra $150 million in notes. These are unsecured senior obligations and won't be subject to regular interest.
Source Fool.com
