Bitcoin mining company MARA launches consent solicitation for Long Ridge's $600 million notes to advance asset acquisition

Odaily Planet Daily News Nasdaq-listed bitcoin mining company MARA Holdings has initiated a consent solicitation process with holders of Long Ridge Energy's $600 million senior secured notes (due 2032) to amend certain indenture provisions.

MARA previously signed an agreement on April 29 to acquire 100% equity of Long Ridge's parent company. Since this transaction would trigger the "change of control" clause in the notes, it would theoretically require a cash repurchase of all outstanding notes at 101% of par value. MARA is now seeking consent from noteholders to exclude this transaction from the definition of "change of control" and to designate MARA and its affiliates as "permitted holders." (Globenewswire)