IPO - BITMINE IMMERSION TECHNOLOGIES, INC.

Form Type: S-1/A

Filing Date: 2025-04-09

Corporate Action: Ipo

Type: Update

Accession Number: 000168316825002385

Filing Summary: Bitmine Immersion Technologies, Inc. filed an amendment to their registration statement, indicating an intention to offer 1,704,546 shares of common stock at an assumed public offering price of $8.80, which reflects a proposed reverse stock split of 1-for-20. The offering is subject to approval for listing on an exchange, with uncertainties regarding the development of a trading market after the transition from OTCQX. The filing outlines the company's strategy focused on accumulating bitcoin and expanding mining operations, leveraging a combination of common stock and fixed-income securities for financing. It highlights the risks associated with investing, potential financial performance, and market conditions affecting the bitcoin industry, emphasizing their long-term approach to holding bitcoin and anticipated operational efficiencies. The underwriters have a 45-day option to purchase additional shares to cover any over-allotments, and the document notes various details regarding underwriting compensation.

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Form Type: S-1

Filing Date: 2025-01-21

Corporate Action: Ipo

Type: New

Accession Number: 000168316825000444

Filing Summary: Bitmine Immersion Technologies, Inc. is filing a registration statement under the Securities Act of 1933 for the proposed offering of its common stock. The company, incorporated in Delaware, intends to commence a public offering of its shares as soon as practicable after the effective date of the registration statement. The offering includes a proposed reverse stock split of outstanding common stock prior to the closing of the offering. The registration outlines various terms including potential underwriting discounts and commissions, and an additional option for underwriters to purchase extra shares to cover over-allotments. As an 'emerging growth company', Bitmine will take advantage of reduced public company reporting requirements. The company plans to fund its operations through equity and debt financing, with a focus on accumulating bitcoin as a long-term investment. It also highlights their strategy to enhance their bitcoin mining operations and explore partnerships in the industry. The registration statement reflects a high-risk investment opportunity associated with the volatility of the bitcoin market and overall business operations. Investors are advised to carefully evaluate the associated risks as detailed in the prospectus.

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