Bitcoin mining company MARA initiates consent solicitation process 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 for holders of Long Ridge Energy's $600 million senior secured notes (due 2032) to amend related indenture terms.

MARA previously signed an agreement on April 29 to acquire 100% equity of Long Ridge's parent company. Since the transaction would trigger the "change of control" clause in the notes, it theoretically requires repurchasing all outstanding notes in cash at 101% of their principal. 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)