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MARA Announces Expiration and Results of the Consent Solicitation for the 8.750% Senior Secured Notes due 2032 of Long Ridge Energy LLC
CUSIP Nos. 54288CAA1 / U5423CAA6 Miami, FL, May 15, 2026 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA”) today announced the expiration and
About this update from Mara Holdings, Inc.
[{"type":"text","content":"CUSIP Nos. 54288CAA1 / U5423CAA6 Miami, FL, May 15, 2026 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA”) today announced the expiration and results of the previously announced consent solicitation (the “Consent Solicitation”) by MARA USA Corporation, its wholly owned subsidiary (the “Offeror”), relating to the outstanding 8.750% Senior Secured Notes due 2032 (the “Notes”) of Long Ridge Energy LLC (the “Issuer”). The Consent Solicitation expired at 5:00 p.m., New York City time, on May 15, 2026 (the “Expiration Time”). On May 14, 2026, prior to the Expiration Time, the Offeror received the requisite consents from registered holders (“Holders”) of at least a majority of the aggregate principal amount of the Notes outstanding (the “Requisite Consents”) to approve the proposed amendments (the “Proposed Amendments”) to the indenture governing the Notes (the “Indenture”), as described in the consent solicitation statement dated as of May 7, 2026 (as amended or supplemented from time to time, the “Consent Solicitation Statement”). Accordingly, on May 14, 2026, the Issuer and the subsidiary guarantors party to the Indenture entered into a supplemental indenture to the Indenture with U.S. Bank Trust Company, National Association, as trustee, reflecting the Proposed Amendments. The Proposed Amendments will become operative only upon the consummation of the Transaction (as defined below), the payment of the Consent Fee (as defined below) to the Depository Trust Company for the benefit of Consenting Holders (as defined below) and the satisfaction of certain other conditions, in each case as described in the Consent Solicitation Statement. The Consent Fee is expected to be paid substantially concurrently with the Transaction closing, which, if consummated, is currently expected to be in the second half of 2026, and could be as soon as the third quarter of 2026, subject to regulatory approvals, including clearance under the Hart-Scott-Rodino Act and Federal Energy Regulatory Commission approval, as well as satisfaction of other customary closing conditions. Subject to the terms and conditions of the Consent Solicitation, the Offeror offered each Holder of the Notes who validly delivered (and did not validly revoke) its consents to the Proposed Amendments prior to the Expiration Time (each such Holder a “Consenting Holder”) a c...