Bitmine appoints Jonathan Bates CEO; IDI to convert $2.1M debt into preferred stock

BITMINE IMMERSION TECHNOLOGIES, INC.

Jonathan Bates, previously Chairman, appointed CEO; Erik Nelson moved to President. Bates to work without salary through 2022, receives only equity options.
IDI (managed by Bates) agreed in principle to convert ~$2.1M existing debt plus additional $900K into a new preferred stock class.
Conversion subject to disinterested board approval and shareholder vote to authorize preferred stock; expected to close in ~60 days after board approval.
Debt conversion strengthens balance sheet, prepares Bitmine for potential NASDAQ/NYSE uplisting.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Jonathan Bates

Chief Executive Officer

BMNR · BITMINE IMMERSION TECHNOLOGIES, INC.

Effective: 2022-05-26
Filed: May 27, 2022, 7:59 PM ET

On May 26, 2022, the Company appointed Jonathan Bates as chief executive officer and Erik S. Nelson as president.

Role change

Erik S. Nelson

President

BMNR · BITMINE IMMERSION TECHNOLOGIES, INC.

Effective: 2022-05-26
Filed: May 27, 2022, 7:59 PM ET

On May 26, 2022, Erik S. Nelson resigned as chief executive officer of Bitmine Immersion Technologies, Inc. (the “ Company ”) in order to allow Jonathan Bates to assume the position of chief executive officer. (c) On May 26, 2022, the Company appointed Jonathan Bates as chief executive officer and Erik S. Nelson as president.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Jonathan Bates was appointed as Chief Executive Officer at BITMINE IMMERSION TECHNOLOGIES, INC..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

On May 26, 2022, the Company appointed Jonathan Bates as chief executive officer and Erik S. Nelson as president.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Erik S. Nelson was appointed as President at BITMINE IMMERSION TECHNOLOGIES, INC..

Action: appointed
Role: President

Exact text from the filing

On May 26, 2022, Erik S. Nelson resigned as chief executive officer of Bitmine Immersion Technologies, Inc. (the “ Company ”) in order to allow Jonathan Bates to assume the position of chief executive officer. (c) On May 26, 2022, the Company appointed Jonathan Bates as chief executive officer and Erik S. Nelson as president.

View on SEC.gov

BITMINE IMMERSION TECHNOLOGIES, INC. filing history →

Source: SEC EDGAR

accession 0001683168-22-004038

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