FTAI Infrastructure Announces $1.512 Billion Sale of Long Ridge Energy & Power to MARA USA

FTAI Infrastructure Inc. (FIP) announced the sale of its indirect wholly-owned subsidiary Long Ridge Energy & Power LLC (LRE&P) to MARA USA Corporation, a subsidiary of MARA Holdings, for a base purchase price of $1.512 billion. The transaction, executed through an equity purchase agreement dated April 29, 2026, involves the sale of all membership interests in LRE&P. The deal includes customary closing conditions, regulatory approvals, and a $20 million escrow account for post-closing adjustments. Buyer's financing includes a $785 million bridge term loan facility from Barclays Bank PLC. The agreement contains termination provisions with a $75 million reverse termination fee payable by Buyer in certain financing failure scenarios. RSU holders will receive cash or FIP common stock upon closing. The transaction is expected to close by November 30, 2026, with a possible 7-month extension for regulatory approvals.