Bitmine Immersion Technologies Proposes Series A Preferred Stock Offering

Bitmine Immersion Technologies, Inc. announced its plan to offer 3 million shares of its 9.50% Series A Perpetual Preferred Stock, subject to market conditions. The company aims to utilize the proceeds for corporate purposes, including digital asset acquisition and infrastructure expansion.

The Series A Preferred Stock ensures a 9.50% annual cumulative dividend. Redemption rights are detailed, allowing the company to redeem shares at various premiums over time. The liquidation preference is initially set at $100 per share.

Expecting to list on the NYSE under "BMNP," trading may begin 30 days post-issuance. Moelis & Company and Cantor are leading the offering, filed under an effective SEC registration statement.