Corporate ActionJun 10, 2026, 05:07 PM
Bitmine Immersion Technologies Issues 3.5M Series A Preferred Stock
AI Summary
Bitmine Immersion Technologies, Inc. issued 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock in a public offering. The preferred stock has a stated amount and initial liquidation preference of $100 per share and will pay cumulative cash dividends weekly at a 9.50% annual rate. Unpaid dividends will accrue compounded dividends, starting at 9.55% and potentially increasing up to 15% per annum. The Series A Preferred Stock ranks senior to common stock regarding dividends and liquidation.
Key Highlights
- Issued 3,500,000 shares of 9.50% Series A Perpetual Preferred Stock in a public offering.
- Series A Preferred Stock has a stated amount and initial liquidation preference of $100 per share.
- Cumulative dividends accrue at a rate of 9.50% per annum, payable weekly in cash.
- Unpaid dividends will accumulate compounded dividends, starting at 9.55% and potentially rising to 15% per annum.
- The Series A Preferred Stock ranks senior to the Company's common stock for dividends and liquidation.
- The Company may sell common stock or digital assets to cover deferred dividends.
Price Impact
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