[Bitmine Plans to Follow Strategy in Issuing $300 Million Perpetual Preferred Stock with 9.5% Annualized Dividend] BlockBeats News, June 4: According to a filing submitted to the U.S. SEC, Bitcoin mining company Bitmine Immersion Technologies announced the issuance of 3 million shares of 9.50% Series A perpetual preferred stock, with a par value of $100 per share, aiming to raise a total of $300 million. Under the issuance terms, the initial liquidation preference of the preferred stock is $100 per share, which may be adjusted in the future according to relevant regulations but will not fall below $100. The preferred stock will accumulate dividends at an annualized rate of 9.5%, paid weekly in cash. Even if the company does not declare dividends or temporarily lacks distributable funds, the dividends will continue to accumulate. Bitmine stated that it may increase the dividend payment frequency in the future, providing investors with a stable source of cash income. Additionally, the company retains the right to redeem the shares early. Within 18 months of issuance, Bitmine may redeem the preferred stock at 110% of par value; between 18 months and 3 years, the redemption price will be 105% of par value; after 3 years, the shares can be redeemed at 100% of par value. All redemptions will require the additional payment of any accumulated unpaid dividends. If the number of outstanding preferred shares falls below 25% of the total issuance, or in the event of certain tax-related occurrences, the company also has the right to redeem the remaining preferred shares in full. [Original Link]