Jonathan Robert Bates - 23 Aug 2022 Form 5 Insider Report for BITMINE IMMERSION TECHNOLOGIES, INC. (BMNR)

Reporting relationship: Chief Executive Officer, Director, 10%+ Owner
Issuer ticker: BMNR
Reported as of: 23 Aug 2022
Net transaction value: $0
SEC form: 5
Accepted by SEC: 02 Nov 2022, 17:06:47 UTC
Prior SEC filing: 03 Aug 2021
Next SEC filing: 04 Dec 2024
Source filing: View source filing
Reporting owner signature: /s/ Jonathan R. Bates

Key filing fact

Jonathan Robert Bates filed Form 5 for BITMINE IMMERSION TECHNOLOGIES, INC. (BMNR) on 02 Nov 2022.

Key facts

This page summarizes Jonathan Robert Bates's Form 5 filing for BITMINE IMMERSION TECHNOLOGIES, INC. (BMNR).
2 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 02 Nov 2022, 17:06.

Change

Previous filing in this sequence was filed on 03 Aug 2021.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Official SEC source

Ownership activity is grounded in SEC Form 5 disclosures.

View source filing

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

BMNR transaction Derivative

Class A Convertible Preferred Stock

Award

Transaction value
Shares: +303,996
Change %
Price
Shares after: 303,996
Date: 31 Aug 2022
Ownership: Owned by Innovative Digital Investors Emerging Technology, LP
Underlying class: Common Stock
Underlying amount: 5,286,887
Exercise price
Footnotes: F1, F2, F3

BMNR transaction Derivative

Class A Convertible Preferred Stock

Award

Transaction value
Shares: +150,000
Change %: +49%
Price
Shares after: 453,996
Date: 31 Aug 2022
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 2,608,696
Exercise price
Footnotes: F1, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

Each share of Series A Convertible Preferred Stock is convertible immediately into that number of shares equal to its stated value divided by $0.575 per share. The stated value of each share of Series A Convertible Preferred Stock is $10. The conversion price is subject to proportionate adjustment as a result of any forward or reverse split of the company's common stock, as well as certain other corporate events. The Series A Convertible Preferred Stock is perpetual.

Footnote F2

Acquired in exchange for $3,039,662 of indebtedness owed by the company.

Footnote F3

Innovative Digital Investors Emerging Technology, LP ("IDIET"), a Delaware limited partnership, has direct beneficial ownership of all the securities owned by IDIET. Innovative Digital Investors, LLC ("IDI"), a Delaware limited liability company, is the general partner of IDIET, and may be deemed to have indirect beneficial ownership of all or a portion of the securities owned directly by IDIET, but disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein. Jonathan R. Bastes is the manager of IDI, and may be deemed to have indirect beneficial ownership of all or a portion of the securities owned directly by IDIET and IDI., but disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

Footnote F4

The shares were issued for services. The shares are subject to forfeiture if the reporting person is not continuously employed by the company as an employee or consultant from the date of grant to January 15, 2025. Vesting may be accelerated in the event of a change in control of the Company, a termination by the reporting person of his employment for good reason or by the company without cause, or at the discretion of the board of directors. The foregoing is a summary of the vesting terms of the stock grant as set forth in a restricted stock agreement between the company and the reporting person.