Bitmine BMNR don launch 9.5% Series A perpetual preferred offering

Bitmine Immersion Technologies (NYSE: BMNR) don announce say dem wan do public preferred stock offering of 3,000,000 shares of dia 9.50% Series A Perpetual Preferred Stock (BMNP), but e go depend on market and other conditions. BMNP preferred stock get fixed 9.50% cumulative dividend on $100 stated amount, and dividends go dey paid weekly in arrears once dem declare am. If dem no pay dividends on time, the unpaid part fit compound every week, with limited maximum annual compounding mechanic. BMNR talk say the net proceeds go use for general corporate purposes, like to buy more ETH and other digital assets, expand Ethereum staking and validator infrastructure through MAVAN, working capital, and strategic investments wey align with the Ethereum ecosystem, and/or repurchase common stock. Redemption terms give company call rights: 110% of stated value if dem redeem within 18 months, 105% between 18 months and 3 years, and 100% after 3 years, plus accumulated unpaid dividends. Company fit also get “fundamental change” repurchase provisions for holders. If NYSE approve the listing, BMNP go begin trade within 30 days after the first issuance. Moelis & Company and Cantor na joint lead bookrunners, and the deal go register under SEC shelf registration (Form S-3). For crypto traders, the main link na the financing intent to add ETH exposure and scale staking/validator operations.