- bread and circus
- Published: 2025-01-11Source: bread and circus
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Renowned national expert in the field of reproductive medicine, Liu Yusheng, is under investigation for suspected serious violations of discipline and law. Special counsel moves to dismiss election interference and classified documents cases against Trump
Proceeds to be used primarily to acquire bitcoin and repurchase existing convertible notes due 2026 Fort Lauderdale, FL, Dec. 04, 2024 (GLOBE NEWSWIRE) -- MARA Holdings, Inc. (NASDAQ: MARA) (“MARA” or the “Company”), a global leader in leveraging digital asset compute to support the energy transformation, today announced the closing on December 4, 2024 of its offering of 0.00% convertible senior notes due 2031 (the “notes”). The aggregate principal amount of the notes sold in the offering was $850 million. MARA also granted the initial purchasers an option to purchase an additional $150 million aggregate principal amount of the notes within a 13-day period beginning on, and including, the date on which the notes were first issued. The notes were sold in a private offering to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The net proceeds from the sale of the notes were approximately $835.1 million, after deducting the initial purchasers’ discounts and commissions but before estimated offering expenses payable by MARA. MARA expects to use approximately $48 million of the net proceeds from the sale of the notes to repurchase approximately $51 million in aggregate principal amount of its existing convertible notes due 2026 (the “existing 2026 convertible notes”) in privately negotiated transactions with the remainder of the net proceeds to be used to acquire additional bitcoin and for general corporate purposes, which may include working capital, strategic acquisitions, expansion of existing assets, and repayment of additional debt and other outstanding obligations. The notes are unsecured, senior obligations of MARA. The notes will not bear regular interest and the principal amount of the notes will not accrete. MARA may pay special interest, if any, at its election as the sole remedy for failure to comply with its reporting obligations and under certain other circumstances, each pursuant to the indenture. Special interest, if any, on the notes will be payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2025 (if and to the extent that special interest is then payable on the notes). The notes will mature on June 1, 2031, unless earlier repurchased, redeemed or converted in accordance with their terms. Subject to certain conditions, on or after June 5, 2029, MARA may redeem for cash all or any portion of the notes at a redemption price equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid special interest, if any, to, but excluding, the redemption date, if the last reported sale price of MARA’s common stock has been at least 130% of the conversion price then in effect for a specified period of time ending on, and including, the trading day immediately before the date MARA provides the notice of redemption. If MARA redeems fewer than all the outstanding notes, at least $75 million aggregate principal amount of notes must be outstanding and not subject to redemption as of the relevant redemption notice date. Holders of notes may require MARA to repurchase for cash all or any portion of their notes on June 4, 2027 and on June 4, 2029 or upon the occurrence of certain events that constitute a fundamental change under the indenture governing the notes at a repurchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid special interest, if any, to, but excluding, the date of repurchase. In connection with certain corporate events or if MARA calls any note for redemption, it will, under certain circumstances, be required to increase the conversion rate for holders who elect to convert their notes in connection with such corporate event or notice of redemption. The notes are convertible into cash, shares of MARA’s common stock, or a combination of cash and shares of MARA’s common stock, at MARA’s election. Prior to March 1, 2031, the notes are convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The conversion rate for the notes is initially 28.9159 shares of MARA’s common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $34.5830 per share. The initial conversion price of the notes represents a premium of approximately 40.0% over the U.S. composite volume weighted average price of MARA’s common stock from 2:00 p.m. through 4:00 p.m. Eastern Daylight Time on Monday, December 2, 2024, which was $24.7022. The conversion rate is subject to adjustment upon the occurrence of certain events. In connection with any repurchase of the existing 2026 convertible notes, MARA expects that holders of the existing 2026 convertible notes who agree to have their notes repurchased and who have hedged their equity price risk with respect to such notes (the “hedged holders”) will unwind all or part of their hedge positions by buying MARA’s common stock and/or entering into or unwinding various derivative transactions with respect to MARA’s common stock. The amount of MARA’s common stock to be purchased by the hedged holders or in connection with such derivative transactions may be substantial in relation to the historic average daily trading volume of MARA’s common stock. This activity by the hedged holders could increase (or reduce the size of any decrease in) the market price of MARA’s common stock, including concurrently with the pricing of the notes, resulting in a higher effective conversion price of the notes. MARA cannot predict the magnitude of such market activity or the overall effect it will have on the price of the notes or MARA’s common stock. The notes were sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. The offer and sale of the notes and the shares of MARA’s common stock issuable upon conversion of the notes, if any, have not been and will not be registered under the Securities Act or the securities laws of any other jurisdiction, and the notes and any such shares may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. The offering of the notes was made only by means of a private offering memorandum. This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, the notes, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful under the securities laws of any such state or jurisdiction. Nothing in this press release shall be deemed an offer to purchase MARA’s existing 2026 convertible notes. About MARA MARA (NASDAQ:MARA) is a global leader in digital asset compute that develops and deploys innovative technologies to build a more sustainable and inclusive future. MARA secures the world’s preeminent blockchain ledger and supports the energy transformation by converting clean, stranded, or otherwise underutilized energy into economic value. Forward-Looking Statements Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to MARA’s use of the net proceeds of the offering. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including the factors discussed in the “Risk Factors” section of MARA’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 28, 2024, as amended on May 24, 2024, the “Risk Factors” section of MARA’s Quarterly Report on Form 10-Q filed with the SEC on August 1, 2024, the “Risk Factors” section of MARA’s Quarterly Report on Form 10-Q filed with the SEC on November 12, 2024 and the risks described in other filings that MARA may make from time to time with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and MARA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. MARA Company Contact: Telephone: 800-804-1690 Email: ir@mara.com
WASHINGTON (AP) — Federal prosecutors moved Monday to abandon the classified documents case against President-elect Donald Trump in light of longstanding Justice Department policy that says sitting presidents cannot face criminal prosecution. The announcement in an appeals court filing in Florida came shortly after a similar filing was made by prosecutors in Washington, D.C., where they asked to dismiss the case accusing Trump of plotting to overturn the 2020 election . The move amounts to a predictable but nonetheless stunning conclusion to a criminal case that just one year ago had been seen as the most perilous legal threat that he faced. It reflects the practical consequences of Trump’s victory, ensuring he enters office free from scrutiny over his hoarding of top secret documents and conduct that prosecutors said had jeopardized national scrutiny. The dismissal had been foreshadowed in recent weeks by the revelation that special counsel Jack Smith was evaluating how to wind down both that case and a separate pending prosecution he brought charging Trump with plotting to overturn the results of the 2020 election. Justice Department legal opinions dating back decades say sitting presidents cannot be indicted or prosecuted while in office. THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below. WASHINGTON (AP) — Special counsel Jack Smith asked a federal judge on Monday to dismiss the case accusing President-elect Donald Trump of plotting to overturn the 2020 election , citing longstanding Justice Department policy shielding presidents from prosecution while in office. The move announced in court papers marks the end of the Justice Department's landmark effort to hold Trump accountable for what prosecutors called a criminal conspiracy to cling to power in the run-up to his supporters' attack on the U.S. Capitol on Jan. 6, 2021. Justice Department prosecutors, citing longstanding department guidance that a sitting president cannot be prosecuted, said the department’s position is that “the Constitution requires that this case be dismissed before the defendant is inaugurated.” “That prohibition is categorical and does not turn on the gravity of the crimes charged, the strength of the Government’s proof, or the merits of the prosecution, which the Government stands fully behind,” the prosecutors wrote in Monday’s court filing. The decision was expected after Smith's team began assessing how to wind down both the 2020 election interference case and the separate classified documents case in the wake of Trump's victory over Vice President Kamala Harris. The Justice Department believes Trump can no longer be tried in accordance with longstanding policy that says sitting presidents cannot be prosecuted. Trump has cast both cases as politically motivated, and had vowed to fire Smith as soon as he takes office in January. The 2020 election case brought last year was once seen as one of the most serious legal threats facing the Republican as he vied to reclaim the White House. But it quickly stalled amid legal fighting over Trump’s sweeping claims of immunity from prosecution for acts he took while in the White House. The U.S. Supreme Court in July ruled for the first time that former presidents have broad immunity from prosecution, and sent the case back to U.S. District Judge Tanya Chutkan to determine which allegations in the indictment, if any, could proceed to trial. The case was just beginning to pick up steam again in the trial court in the weeks leading up to this year’s election. Smith’s team in October filed a lengthy brief laying out new evidence they planned to use against him at trial, accusing him of using “resorting to crimes” in an increasingly desperate effort to overturn the will of voters after he lost to President Joe Biden.
One possible explanation for the slowdown in export growth could be related to external factors such as the ongoing trade tensions between major economies. Uncertainty and volatility in global trade relations can have a dampening effect on export growth, as businesses may become more cautious in their dealings with international partners. In addition, the appreciation of the local currency against major foreign currencies may also impact export competitiveness, making goods and services more expensive for overseas buyers.US stocks surge to records, shrugging off upheaval in South Korea, FranceWith more than half of the 16 teams still mathematically alive to make the conference championship game, the Big 12 will command a lot of attention in the final week of the regular season. No. 14 Arizona State and No. 17 Iowa State would play for the Big 12 title and likely College Football Playoff spot on Dec. 7 if they both win Saturday and there's a four-way tie for first place. There are seven other teams that begin this week with hopes, slim in most cases, of getting into the game at AT&T Stadium in Arlington, Texas. Last week it was No. 19 BYU and No. 23 Colorado that had the inside track to the championship game. Arizona State beat the Cougars and Kansas knocked off the Buffaloes, and here we are. "Everybody counted us out, I think, two weeks ago," Iowa State coach Matt Campbell said after his team beat Utah 31-28. "We didn't flinch. We didn't waver. And we just keep fighting." The Cyclones were national darlings the first half of the season as they won seven straight games to match the best start in program history. Back-to-back losses to Texas Tech and Kansas followed. Now they've won two straight heading into "Farmageddon," their rivalry game against Kansas State at home. "Right now they've got the pen and they continue to write the story," Campbell said of his players, "and I hope they will continue to write it the way they've got the ability to write it. Unwavering. Tough, mentally tough, physically tough. This group has stood for it every step of the way." Arizona State has been an even better story than the Cyclones. The Sun Devils have six more wins than they did last season, when they went 3-9. They were picked to finish last in their first year in the Big 12. They'll go for their fifth straight victory when they play at Arizona on Saturday. "These guys came off no momentum and everybody doubting them, and everybody is still doubting them. That's what makes this special," second-year coach Kenny Dillingham said. "Hopefully the expectations become higher. I don't know if there's a way we can exceed expectations more than we're exceeding them right now." Checking in on five of the Top 25: The Ducks were idle Saturday after clinching a spot in the Big Ten championship game with their win at Wisconsin on Nov. 16. Oregon can go 12-0 in the regular season for the first time since 2010 if it beats Washington at home this week. Oregon's only two losses last season came against the Huskies, both decided by three points. The first was a top-10 matchup in the regular season and the second was a top-five matchup in the Pac-12 championship game. The Ducks are 19 1/2-point favorites this time, according to BetMGM Sportsbook. The Buckeyes' showdown with upstart Indiana combined with Michigan's dropoff after winning the national championship have lowered the volume on this week's meeting with the Wolverines at the Horseshoe. If Michigan beats Ohio State a fourth straight time and it keeps the Buckeyes out of the Big Ten championship game and playoff ... well, there'll be lots of noise in Columbus then. The Lone Star Showdown returns to the gridiron for the first time since 2011, when Texas and Texas A&M were in the Big 12. The Longhorns head to No. 20 Texas A&M on a four-game win streak. The Aggies have lost two of three after Saturday's four-overtime loss at Auburn. The winner advances to the Southeastern Conference championship game against Georgia. The Broncos are tied with Notre Dame for the second-longest active win streak, at nine games, and they seem to have adopted a survive-and-advance mantra. They trailed 23-point underdog Wyoming in the fourth quarter before winning 17-13 and clinching a spot in the Mountain West championship game. They won their previous game, 42-21 against San Jose State, but didn't pull away until the fourth quarter. Two weeks ago they beat a three-win Nevada team 28-21. Just when you think Illinois is about to cash in for the season, they do what they did against Rutgers. The Illini were down 31-30 when they lined up for a 58-yard field goal with 14 seconds left. Ethan Moczulski missed. But wait. Rutgers called timeout before the snap, and Bret Bielema thought better of trying another kick and sent his offense back on the field. Luke Altmyer passed to Pat Bryant for the winning 40-yard touchdown. The Illini won't play for the Big Ten title, but they have a chance for nine wins and a nice bowl. Ohio State played in three of the five regular-season top-five matchups and won three of them. The Buckeyes lost to Oregon and beat Penn State and Indiana. ... Kansas' 37-21 win over Colorado made the Jayhawks the first FBS team with a losing record to beat three straight Top 25 opponents. The Jayhawks, who were 2-6 a month ago, will be bowl eligible if they win at Baylor. ... Nebraska ended the longest power conference bowl drought with its 44-25 win over Wisconsin. The Cornhuskers haven't played in a bowl since 2016. Get local news delivered to your inbox!In response to these concerns, some professional organizations have taken steps to enhance transparency and accountability in their funding practices. By establishing clear guidelines on sponsorship and donation policies, as well as disclosing potential conflicts of interest, these groups are working to safeguard their independence and credibility. Moreover, by diversifying their funding sources and reducing reliance on a single source of income, professional associations can mitigate the risks associated with financial influence.
Moreover, the "Factory Direct Sales" program encourages transparency and accountability in the supply chain by fostering direct communication between manufacturers and consumers. This not only builds trust between businesses and their customers but also promotes ethical business practices and sustainability.
Fortive Corp. stock rises Wednesday, still underperforms marketChikli on Hagari's comments: Crossing of a red line by an officer who missed his civics classes
Shohei Ohtani is a three-time MVP and a World Series champion . Now he’s about to add another title. Daddy. Ohtani posted to his Instagram account Saturday, announcing the upcoming birth of his and wife Mamiko’s first child. “Can’t wait for the little rookie to join our family soon!” he posted under a photo of a pink onesie and baby shoes – with the family dog, Decoy, lying next to the baby gear. Ohtani offered no more details about the baby’s expected arrival – in keeping with the way he guards his private life. In February, Ohtani announced his marriage on Instagram without including any details about the wedding, not even the date, nor his wife’s name, referring to her only as “a normal Japanese woman.” “She is a Japanese woman,” Ohtani said through an interpreter when he announced the marriage during spring training. “I don’t really feel comfortable talking about when I got married exactly, but she’s a normal Japanese woman.” Dodgers manager Dave Roberts joked at the time that Ohtani had kept the marriage such a secret even from his teammates that no one had a chance to shop for wedding gifts. Mamiko Tanaka’s identity was eventually uncovered by the media and she was photographed with Ohtani during the Dodgers’ March trip to South Korea. The couple made occasional appearances together at events throughout the season and were recently spotted together at a Lakers game. Tanaka turned 28 earlier this month and has an athletic background of her own. She played college basketball in Japan and played four seasons professionally for the Fujitsu Red Wave. Ohtani underwent surgery on his left shoulder shortly after the end of the World Series. He partially dislocated the shoulder on a slide during Game 2 against the Yankees. The injury is not expected to prevent him from opening the 2025 season in the Dodgers’ lineup as their designated hitter. But the interruption of his throwing program necessitated by the shoulder rehab will prevent him from being ready to return to pitching until after the season starts. The Dodgers are again scheduled to start the season overseas. They will play two games against the Chicago Cubs at the Tokyo Dome on March 18 and 19. The domestic opener is scheduled for March 27 at Dodger Stadium against the Detroit Tigers.And with that, the released prisoner continued on his journey, ready to embrace the challenges and joys of his newfound freedom, one step at a time.
As the story continues to unfold, more questions than answers seem to emerge. What is the true relationship between the female master's degree holder and Mr. X? What led her to seek refuge at his doorstep? And what significance does Mr. X's claim of having organized banquets hold in this bizarre tale?Man City End 7-game Winless Run, Thrash Nottingham Forest 3-0
The Apprentice star also argued that a lack of clarity from the Government on the ownership test is causing “significant uncertainty” for potential investors. This came as the House of Lords continued its scrutiny of the Football Governance Bill, which seeks to establish an independent regulator for the top five tiers of the men’s game. In the upper chamber, Baroness Brady said: “We are creating legislation which will profoundly affect 160 quite unique institutions, from Premier League clubs through to the National League community clubs, but it is important for everyone to understand that the consultation with these affected businesses by the current Government has been remarkably limited, almost unbelievably so. “Just seven Premier League clubs, I was one of them, was granted a brief half-hour meeting with the Secretary of State over the summer. “And following this cursory engagement, significant decisions were made that could fundamentally affect the future of English football, most notably with the inclusion of parachute payments within the backstop mechanism. “This is particularly concerning given that fundamental issues still remained unresolved, we still lack any clarity on Uefa’s position on state interference, for example, this clearly creates profound uncertainty for clubs competing in or aspiring to European competition, as well as our national teams.” “We don’t know what the ownership test will look like, this causes significant uncertainty for potential investors as to whether they are able to own a club,” she added. Lady Brady continued: “I have spoken to many of my colleagues across all of the football pyramid, we are all alarmed about and puzzled by the lack of discussion on the Bill with ministers. “Would the minister agree that we all want to get the detail of this Bill right? And can she see any downsides to providing meaningful opportunities to hear from all clubs across the football pyramid affected by the legislation?” Prior to this, Tory shadow sports minister Lord Parkinson of Whitley Bay had tabled an amendment which he said would allow clubs to “make their views known on this legislation” by including specific competitions on the face of the Bill. Labour frontbencher Baroness Twycross told the upper chamber: “I don’t think the leagues are confused either on which leagues this legislation will apply to.” She added: “This power is both reasonable and the result of evidence-based consultation with all key stakeholders in the industry. “This power ensures that the competitions in scope can be amended in a timely manner and ensures the scope of the regime remains relevant.” The peer later said: “Over the past three years there have been countless opportunities for all affected and interested parties to make representations.” Lady Brady also raised concerns about the financial distribution backstop, which she said is “clearly designed as a mechanism to gain direct access to, and apportionate Premier League revenue, and no-one else’s”. “I might add the backstop will allow the IFR (Independent Football Regulator) to do this even if it was against the Premier League clubs’ will, or even without the clubs’ agreement, even if it was to have a detrimental effect on the clubs and the overall competition it removes revenue from,” she added. The backstop would allow the new IFR to intervene in the distribution of Premier League broadcast revenue down the leagues as a last resort. It could be triggered by the Premier League, English Football League (EFL) or National League to mediate the fair financial distribution of this revenue if they are not able to come to an agreement. Conservative peers later raised concerns over the cost implications to clubs of establishing the regulator, although they faced claims of “filibustering” – wasting time by making overlong speeches in a bid to delay progress. Watching opposition benches blatantly filibustering to destroy the Football Governance Bill is nothing short of sporting vandalism.Football is broken. Clubs are struggling. Now those seats have been lost, do they no longer care about likes of Reading or Southend? @FairGameUK — Niall Couper (@NiallCouper) December 4, 2024 Labour peer Lord Watson of Invergowrie questioned why Lord Parkinson was showing “confected outrage” at the Bill when the former culture minister would have been defending a similar proposal had the Tories remained in power. Lord Parkinson, in his reply, said: “We want to see this regulator established, we want to see it doing its work and doing so effectively, but we also see before us a Bill that is different because of the election that was called and the result that happened, and we’re interrogating particularly closely the changes that the Government have made to the Bill – of which there are many. “And we have more concerns on these benches than we did before the election from my colleagues behind me about the way we do it.” The Tory peer pointed to Labour frontbenchers fulfilling their duties to “properly scrutinise” then-government legislation when they were on the opposition benches. Lady Twycross, in an intervention, said: “While I agree that (Lord Parkinson) is correct that I would scrutinise legislation when I was sitting on those (opposition) benches, I have never sought to filibuster a Bill to which my party had committed, which my party had laid before Parliament, and intended to filibuster it to the point of getting us stuck in treacle.” Lord Parkinson replied: “That is not what we’re doing.” Niall Couper, chief executive of the campaign group Fair Game, wrote on social media site X: “Watching opposition benches blatantly filibustering to destroy the Football Governance Bill is nothing short of sporting vandalism.”