BitMine announced the pricing and signing of a private placement for the purchase and sale of 55,555,556 shares of common stock at a price of $4.50 per share for expected aggregate gross proceeds of approximately $250M before deducting placement agent fees and other offering expenses to implement an Ethereum treasury strategy. The closing of the offering is expected to occur on or about July 3, subject to the satisfaction of customary closing conditions, including without limitation, the authorization of the Supplemental Listing Application by the NYSE American. The company intends to use the net proceeds of the offering to acquire the native cryptocurrency of Ethereum blockchain commonly referred to as “ETH” and contribute the ETH to the company’s treasury operations. ETH will serve as the company’s primary treasury reserve asset. ThinkEquity acted as the placement agent in connection with the private placement.
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