MARA Holdings Inc. (NASDAQ: MARA) announced that its subsidiary received the required consents from bondholders to amend the terms of Long Ridge Energy LLC's 8.750% Senior Secured Notes due 2032. The consent solicitation expired May 15, 2026, with the company securing approval from holders representing a majority of the $1 billion in outstanding notes.

The amendments will prevent MARA's planned acquisition of Long Ridge Energy from triggering a "Change of Control" provision that would have required the company to repurchase all outstanding bonds at 101% of face value plus accrued interest. MARA USA Corporation, MARA's wholly owned subsidiary, is acquiring 100% of Long Ridge Energy & Power LLC under an equity purchase agreement signed April 29, 2026.

The amendments become effective only upon completion of the acquisition and payment of a $2.50 per $1,000 principal amount consent fee to participating bondholders. MARA expects to close the transaction in the second half of 2026, potentially as early as the third quarter, pending regulatory approvals including Hart-Scott-Rodino Act clearance and Federal Energy Regulatory Commission approval.

The consent solicitation was managed by Barclays Capital Inc. as solicitation agent and Global Bondholder Services Corporation as information and tabulation agent. Long Ridge Energy LLC is the issuer of the notes and will become an indirect wholly owned subsidiary of MARA upon transaction completion.

MARA describes itself as a company that deploys digital energy technologies and transforms excess energy into digital capital while balancing electrical grids and accelerating critical infrastructure deployment.