Stock Track | MARA Holdings Plummets 5.07% Intraday on Consent Solicitation for Note Amendments

Stock Track

May 08

MARA Holdings' stock plummeted 5.07% during intraday trading on Thursday, following the company's announcement of a consent solicitation for notes related to its planned acquisition of Long Ridge Energy & Power.

The company's subsidiary, MARA USA Corporation, has launched a consent solicitation to amend the indenture governing $600 million of 8.750% Senior Secured Notes due 2032 issued by Long Ridge Energy LLC. The amendment seeks to exclude MARA's planned acquisition of Long Ridge from triggering a "Change of Control" provision that would require repurchasing the notes at 101% of principal value.

MARA is offering note holders a consent fee of $2.50 per $1,000 principal amount to approve the amendments, which would only become operative upon the closing of the acquisition. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other customary conditions.

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The amendment seeks to exclude MARA's planned acquisition of Long Ridge from triggering a \"Change of Control\" provision that would require repurchasing the notes at 101% of principal value.</p><p>MARA is offering note holders a consent fee of $2.50 per $1,000 principal amount to approve the amendments, which would only become operative upon the closing of the acquisition. The transaction is expected to close in the second half of 2026, subject to regulatory approvals and other customary conditions.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MARA","symbol_name":"MARA Holdings","start_time":0,"source_url":"","article_id":"1112863286","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1112863286","pubTimestamp":1778174384,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"MARA Holdings' stock plummeted 5.07% during intraday trading on Thursday, following the company's announcement of a consent solicitation for notes related to its planned acquisition of Long Ridge...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MARA":"MARA Holdings"},"translate_title":"个股追踪|玛拉控股盘中暴跌5.07%票据修订征求同意","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MARA":1},"content_text":"MARA Holdings' stock plummeted 5.07% during intraday trading on Thursday, following the company's announcement of a consent solicitation for notes related to its planned acquisition of Long Ridge Energy & Power.The company's subsidiary, MARA USA Corporation, has launched a consent solicitation to amend the indenture governing $600 million of 8.750% Senior Secured Notes due 2032 issued by Long Ridge Energy LLC. 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