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Deep Tide TechFlow news: On June 05, Bitmine Immersion Technologies announced that the expanded Series A perpetual preferred stock offering has been priced at 3.5 million shares, at $80 per share, with settlement expected to be completed on June 10. The company expects to raise approximately $273.8 million in net proceeds.
The company said the proceeds will be used for general corporate purposes, including increasing holdings of ETH and other digital assets, expanding staking and validation infrastructure, advancing related deployments through MAVAN, providing working capital, making strategic investments related to the Ethereum ecosystem and digital asset adoption, and repurchasing common stock. The Series A preferred stock dividend rate is an annualized 9.50%.