Bitmine Immersion Technologies, Inc. (BMNR) announced a proposed public offering of 3,000,000 shares of its 9.50% Series A Perpetual Preferred Stock.
The shares carry an initial liquidation preference of $100 per share.
Cumulative dividends will accrue at an annual rate of 9.50%.
The company intends to pay these dividends on a weekly basis if declared.
Net proceeds will fund the acquisition of Ethereum (ETH) and other digital assets.
Capital will also support the expansion of staking and validator infrastructure.
Additional uses include working capital, strategic investments, and common stock repurchases.
The offering remains subject to market and other conditions.