STOCK TITAN

[8-K] BitMine Immersion Technologies, Inc. Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Citigroup Global Markets Holdings Inc., guaranteed by Citigroup Inc. (ticker: C), is marketing 5-Year Autocallable Contingent Coupon Securities linked to the worst performer of two underlyings: the iShares 20+ Year Treasury Bond ETF (TLT) and the S&P 500 Dynamic Participation Index (SPXDPU1).

Key commercial terms

  • Contingent coupon: ≥7.40% p.a. (set on pricing 29-Jul-2025), paid monthly only if the worst performer’s closing value ≥80% of its initial value.
  • Autocall feature: Monthly after the first year; called at par plus coupon if the worst performer ≥100% of its initial value on any valuation date.
  • Downside buffer: 15%. If not autocalled and the worst performer falls >15%, investors lose principal point-for-point beyond the buffer.
  • Maturity payment (31-Jul-2030): $1,000 if buffer holds; otherwise $1,000 + [$1,000 × (return + 15%)]. Minimum redemption $150 based on hypotheticals.
  • Credit exposure: Payments depend on the senior unsecured obligations of Citigroup Global Markets Holdings Inc. and the guarantee of Citigroup Inc.

Illustrative outcomes

  • Interim valuation: If worst return ≥-0.01%, note is redeemed at $1,006.167 (principal + coupon). Once return turns negative, coupon drops to $6.167 and principal is not repaid until maturity.
  • Final valuation: Principal fully protected down to -15%. Deeper losses scale to a hypothetical $650 at -50% and $150 at -100%.

Primary risks: investors may receive no coupons, may lose up to 85% of principal, have no upside beyond coupons, face correlation risk between two diverse assets, and must absorb Citigroup credit risk. The notes are not exchange-listed and are expected to price below issue value in secondary markets.

Citigroup Global Markets Holdings Inc., garantito da Citigroup Inc. (ticker: C), sta proponendo titoli a cedola condizionata autocallabile a 5 anni collegati al peggior performante di due sottostanti: l'ETF iShares 20+ Year Treasury Bond (TLT) e l'indice S&P 500 Dynamic Participation (SPXDPU1).

Termini commerciali principali

  • Cedola condizionata: ≥7,40% annuo (fissata al pricing del 29-lug-2025), pagata mensilmente solo se il valore di chiusura del peggior performante è ≥80% del valore iniziale.
  • Funzione autocall: mensile dopo il primo anno; richiamo a valore nominale più cedola se il peggior performante è ≥100% del valore iniziale in una qualsiasi data di valutazione.
  • Buffer di protezione al ribasso: 15%. Se non viene richiamato e il peggior performante scende oltre il 15%, gli investitori perdono capitale in modo proporzionale oltre il buffer.
  • Pagamento a scadenza (31-lug-2030): $1.000 se il buffer regge; altrimenti $1.000 + [$1.000 × (rendimento + 15%)]. Rimborso minimo $150 basato su scenari ipotetici.
  • Esposizione creditizia: i pagamenti dipendono dalle obbligazioni senior unsecured di Citigroup Global Markets Holdings Inc. e dalla garanzia di Citigroup Inc.

Risultati illustrativi

  • Valutazione intermedia: se il rendimento del peggior performante è ≥-0,01%, il titolo viene rimborsato a $1.006,167 (capitale + cedola). Quando il rendimento diventa negativo, la cedola scende a $6,167 e il capitale non viene rimborsato fino alla scadenza.
  • Valutazione finale: capitale completamente protetto fino a -15%. Perdite maggiori si traducono in un valore ipotetico di $650 a -50% e $150 a -100%.

Rischi principali: gli investitori potrebbero non ricevere alcuna cedola, perdere fino all'85% del capitale, non avere guadagni oltre le cedole, affrontare il rischio di correlazione tra due asset diversi e sostenere il rischio di credito di Citigroup. I titoli non sono quotati in borsa e si prevede che vengano scambiati a un prezzo inferiore al valore di emissione nei mercati secondari.

Citigroup Global Markets Holdings Inc., garantizado por Citigroup Inc. (ticker: C), está comercializando valores autocancelables a 5 años con cupón contingente vinculados al peor desempeño de dos activos subyacentes: el ETF iShares 20+ Year Treasury Bond (TLT) y el índice S&P 500 Dynamic Participation (SPXDPU1).

Términos comerciales clave

  • Cupón contingente: ≥7,40% anual (fijado en la fijación de precios del 29-jul-2025), pagado mensualmente solo si el valor de cierre del peor desempeño es ≥80% de su valor inicial.
  • Función autocall: mensual después del primer año; llamado a valor nominal más cupón si el peor desempeño es ≥100% de su valor inicial en cualquier fecha de valoración.
  • Buffer a la baja: 15%. Si no se llama y el peor desempeño cae más del 15%, los inversores pierden capital punto por punto más allá del buffer.
  • Pago al vencimiento (31-jul-2030): $1,000 si el buffer se mantiene; de lo contrario $1,000 + [$1,000 × (retorno + 15%)]. Redención mínima $150 basada en escenarios hipotéticos.
  • Exposición crediticia: Los pagos dependen de las obligaciones senior no garantizadas de Citigroup Global Markets Holdings Inc. y la garantía de Citigroup Inc.

Resultados ilustrativos

  • Valoración intermedia: si el peor retorno es ≥-0.01%, el título se redime a $1,006.167 (capital + cupón). Cuando el retorno se vuelve negativo, el cupón baja a $6.167 y el capital no se reembolsa hasta el vencimiento.
  • Valoración final: capital totalmente protegido hasta -15%. Pérdidas mayores escalan a un valor hipotético de $650 a -50% y $150 a -100%.

Riesgos principales: los inversores pueden no recibir ningún cupón, pueden perder hasta el 85% del capital, no tienen ganancias más allá de los cupones, enfrentan riesgo de correlación entre dos activos diferentes y deben asumir el riesgo crediticio de Citigroup. Los valores no están listados en bolsa y se espera que coticen por debajo del valor de emisión en mercados secundarios.

Citigroup Global Markets Holdings Inc.는 Citigroup Inc.(티커: C)의 보증을 받아 5년 만기 자동상환 조건부 쿠폰 증권을 마케팅하고 있으며, 이는 두 기초자산 중 성적이 가장 낮은 자산에 연동됩니다: iShares 20년 이상 국채 ETF(TLT)와 S&P 500 Dynamic Participation Index(SPXDPU1)입니다.

주요 상업 조건

  • 조건부 쿠폰: 연 7.40% 이상(2025년 7월 29일 가격 결정 기준), 최저 성과 자산의 종가가 초기 가치의 80% 이상일 경우에만 매월 지급됩니다.
  • 자동상환 기능: 첫 해 이후 매월 평가일에 최저 성과 자산이 초기 가치의 100% 이상이면 원금과 쿠폰을 포함하여 액면가로 상환됩니다.
  • 하락 완충 장치: 15%. 자동상환되지 않고 최저 성과 자산이 15% 이상 하락하면 투자자는 완충 장치 초과 손실에 대해 원금 손실을 입습니다.
  • 만기 지급(2030년 7월 31일): 완충 장치가 유지되면 $1,000 지급; 그렇지 않으면 $1,000 + [$1,000 × (수익률 + 15%)] 지급. 가상 시나리오 기준 최소 상환액은 $150입니다.
  • 신용 노출: 지급은 Citigroup Global Markets Holdings Inc.의 선순위 무담보채무와 Citigroup Inc.의 보증에 따라 달라집니다.

예시 결과

  • 중간 평가: 최저 수익률이 -0.01% 이상이면, 노트는 $1,006.167(원금 + 쿠폰)로 상환됩니다. 수익률이 음수로 전환되면 쿠폰은 $6.167로 감소하며 원금은 만기까지 상환되지 않습니다.
  • 최종 평가: 원금은 -15%까지 완전히 보호됩니다. 더 큰 손실은 -50%에서 가상 가치 $650, -100%에서 $150으로 조정됩니다.

주요 위험: 투자자는 쿠폰을 전혀 받지 못할 수 있으며, 원금의 최대 85%까지 손실할 수 있고, 쿠폰 외에는 수익이 없으며, 상이한 두 자산 간 상관관계 위험을 감수해야 하며, Citigroup 신용 위험도 부담해야 합니다. 이 노트는 거래소에 상장되어 있지 않으며, 2차 시장에서 발행가 이하로 거래될 것으로 예상됩니다.

Citigroup Global Markets Holdings Inc., garanti par Citigroup Inc. (symbole : C), commercialise des titres à coupon conditionnel autocallables sur 5 ans liés au moins performant de deux sous-jacents : l'ETF iShares 20+ Year Treasury Bond (TLT) et l'indice S&P 500 Dynamic Participation (SPXDPU1).

Principaux termes commerciaux

  • Coupon conditionnel : ≥7,40 % par an (fixé lors du pricing du 29 juillet 2025), versé mensuellement uniquement si la valeur de clôture du moins performant est ≥80 % de sa valeur initiale.
  • Option autocall : mensuelle après la première année ; rappel au pair plus coupon si le moins performant est ≥100 % de sa valeur initiale à une date de valorisation.
  • Buffer à la baisse : 15 %. Si non rappelé et que le moins performant chute de plus de 15 %, les investisseurs perdent le capital au-delà du buffer, point par point.
  • Versement à l’échéance (31 juillet 2030) : 1 000 $ si le buffer tient ; sinon 1 000 $ + [1 000 $ × (rendement + 15 %)]. Remboursement minimum de 150 $ basé sur des hypothèses.
  • Exposition au crédit : Les paiements dépendent des obligations senior non garanties de Citigroup Global Markets Holdings Inc. et de la garantie de Citigroup Inc.

Résultats illustratifs

  • Valorisation intermédiaire : si le rendement du moins performant est ≥-0,01 %, la note est remboursée à 1 006,167 $ (capital + coupon). Une fois le rendement négatif, le coupon tombe à 6,167 $ et le capital n’est remboursé qu’à l’échéance.
  • Valorisation finale : capital entièrement protégé jusqu’à -15 %. Les pertes plus importantes correspondent à une valeur hypothétique de 650 $ à -50 % et 150 $ à -100 %.

Principaux risques : les investisseurs peuvent ne recevoir aucun coupon, perdre jusqu’à 85 % du capital, ne pas bénéficier d’une hausse au-delà des coupons, faire face au risque de corrélation entre deux actifs différents et doivent assumer le risque de crédit de Citigroup. Les notes ne sont pas cotées en bourse et devraient se négocier en dessous du prix d’émission sur les marchés secondaires.

Citigroup Global Markets Holdings Inc., garantiert von Citigroup Inc. (Ticker: C), bietet 5-jährige autocallable contingent coupon Wertpapiere an, die an den schlechtesten Performer von zwei Basiswerten gekoppelt sind: den iShares 20+ Year Treasury Bond ETF (TLT) und den S&P 500 Dynamic Participation Index (SPXDPU1).

Wesentliche kommerzielle Bedingungen

  • Bedingte Kuponzahlung: ≥7,40% p.a. (festgelegt am Pricing-Tag 29. Juli 2025), monatlich zahlbar, nur wenn der Schlusskurs des schlechtesten Performers ≥80% seines Anfangswertes beträgt.
  • Autocall-Funktion: monatlich nach dem ersten Jahr; Rückzahlung zum Nennwert plus Kupon, wenn der schlechteste Performer an einem Bewertungstag ≥100% seines Anfangswertes erreicht.
  • Abwärts-Puffer: 15%. Wird nicht autocalliert und fällt der schlechteste Performer um mehr als 15%, erleiden Anleger einen proportionalen Kapitalverlust über den Puffer hinaus.
  • Endfälligkeit (31. Juli 2030): 1.000 USD, wenn der Puffer hält; andernfalls 1.000 USD + [1.000 USD × (Rendite + 15%)]. Mindest-Rückzahlung 150 USD basierend auf hypothetischen Szenarien.
  • Kreditrisiko: Zahlungen hängen von den unbesicherten vorrangigen Verbindlichkeiten der Citigroup Global Markets Holdings Inc. und der Garantie von Citigroup Inc. ab.

Beispielhafte Ergebnisse

  • Zwischenbewertung: Liegt die schlechteste Rendite bei ≥-0,01%, wird die Note zu 1.006,167 USD (Kapital + Kupon) zurückgezahlt. Sobald die Rendite negativ wird, sinkt der Kupon auf 6,167 USD und das Kapital wird erst bei Fälligkeit zurückgezahlt.
  • Endbewertung: Kapital ist bis -15% vollständig geschützt. Tiefere Verluste führen hypothetisch zu 650 USD bei -50% und 150 USD bei -100%.

Hauptrisiken: Anleger erhalten möglicherweise keine Kupons, können bis zu 85% des Kapitals verlieren, haben keine Gewinnchancen über die Kupons hinaus, tragen ein Korrelationsrisiko zwischen zwei unterschiedlichen Assets und müssen das Kreditrisiko von Citigroup tragen. Die Notes sind nicht börsennotiert und werden voraussichtlich unter dem Ausgabepreis im Sekundärmarkt gehandelt.

Positive
  • High contingent coupon of at least 7.40% p.a. offers income well above current Treasury yields.
  • 15% downside buffer protects principal against moderate declines in the worst-performing underlying.
  • Monthly autocall can return principal early, reducing duration and credit exposure if markets perform.
Negative
  • No upside participation; returns capped at coupons plus principal.
  • Dual-underlying structure increases probability of breaching coupon and buffer levels.
  • Potential loss of up to 85% of principal if the worst performer falls more than 85%.
  • Credit risk to Citigroup Global Markets Holdings Inc. and Citigroup Inc., both senior unsecured.
  • Illiquidity; securities are unlisted and expected to trade below issue price in secondary markets.

Insights

TL;DR: Attractive yield with 15% buffer, but no upside and dual-asset risk make this a neutral risk-adjusted proposition.

The security offers an above-market coupon (>7.4% p.a.) contingent on both TLT and SPXDPU1 staying within 20% of their initial values. The 15% buffer is standard for five-year autocallables, but two uncorrelated underlyings heighten the probability that at least one breaches the barrier, jeopardising both coupon stream and principal. Autocallability benefits Citi’s funding profile yet caps investor income if markets rally. Given current rate volatility and equity uncertainty into 2030, the payoff profile resembles a moderately leveraged short-put basket—suitable only for investors with a neutral-to-slightly-bullish outlook on both long-duration Treasuries and U.S. equities who can tolerate credit and liquidity risk.

TL;DR: Funding vehicle for Citi; minor impact on equity value, largely immaterial to shareholders.

Citigroup issues hundreds of structured notes annually; this $1,000-denominated offering will raise modest wholesale funding at a spread lower than straight debt because investors accept embedded options. From a shareholder viewpoint, credit exposure is tiny relative to Citi’s $1.4 trn balance sheet; the note marginally diversifies funding sources but does not alter capital or earnings trajectory. Rating agencies already incorporate such issuances, so I see negligible impact on the stock.

Citigroup Global Markets Holdings Inc., garantito da Citigroup Inc. (ticker: C), sta proponendo titoli a cedola condizionata autocallabile a 5 anni collegati al peggior performante di due sottostanti: l'ETF iShares 20+ Year Treasury Bond (TLT) e l'indice S&P 500 Dynamic Participation (SPXDPU1).

Termini commerciali principali

  • Cedola condizionata: ≥7,40% annuo (fissata al pricing del 29-lug-2025), pagata mensilmente solo se il valore di chiusura del peggior performante è ≥80% del valore iniziale.
  • Funzione autocall: mensile dopo il primo anno; richiamo a valore nominale più cedola se il peggior performante è ≥100% del valore iniziale in una qualsiasi data di valutazione.
  • Buffer di protezione al ribasso: 15%. Se non viene richiamato e il peggior performante scende oltre il 15%, gli investitori perdono capitale in modo proporzionale oltre il buffer.
  • Pagamento a scadenza (31-lug-2030): $1.000 se il buffer regge; altrimenti $1.000 + [$1.000 × (rendimento + 15%)]. Rimborso minimo $150 basato su scenari ipotetici.
  • Esposizione creditizia: i pagamenti dipendono dalle obbligazioni senior unsecured di Citigroup Global Markets Holdings Inc. e dalla garanzia di Citigroup Inc.

Risultati illustrativi

  • Valutazione intermedia: se il rendimento del peggior performante è ≥-0,01%, il titolo viene rimborsato a $1.006,167 (capitale + cedola). Quando il rendimento diventa negativo, la cedola scende a $6,167 e il capitale non viene rimborsato fino alla scadenza.
  • Valutazione finale: capitale completamente protetto fino a -15%. Perdite maggiori si traducono in un valore ipotetico di $650 a -50% e $150 a -100%.

Rischi principali: gli investitori potrebbero non ricevere alcuna cedola, perdere fino all'85% del capitale, non avere guadagni oltre le cedole, affrontare il rischio di correlazione tra due asset diversi e sostenere il rischio di credito di Citigroup. I titoli non sono quotati in borsa e si prevede che vengano scambiati a un prezzo inferiore al valore di emissione nei mercati secondari.

Citigroup Global Markets Holdings Inc., garantizado por Citigroup Inc. (ticker: C), está comercializando valores autocancelables a 5 años con cupón contingente vinculados al peor desempeño de dos activos subyacentes: el ETF iShares 20+ Year Treasury Bond (TLT) y el índice S&P 500 Dynamic Participation (SPXDPU1).

Términos comerciales clave

  • Cupón contingente: ≥7,40% anual (fijado en la fijación de precios del 29-jul-2025), pagado mensualmente solo si el valor de cierre del peor desempeño es ≥80% de su valor inicial.
  • Función autocall: mensual después del primer año; llamado a valor nominal más cupón si el peor desempeño es ≥100% de su valor inicial en cualquier fecha de valoración.
  • Buffer a la baja: 15%. Si no se llama y el peor desempeño cae más del 15%, los inversores pierden capital punto por punto más allá del buffer.
  • Pago al vencimiento (31-jul-2030): $1,000 si el buffer se mantiene; de lo contrario $1,000 + [$1,000 × (retorno + 15%)]. Redención mínima $150 basada en escenarios hipotéticos.
  • Exposición crediticia: Los pagos dependen de las obligaciones senior no garantizadas de Citigroup Global Markets Holdings Inc. y la garantía de Citigroup Inc.

Resultados ilustrativos

  • Valoración intermedia: si el peor retorno es ≥-0.01%, el título se redime a $1,006.167 (capital + cupón). Cuando el retorno se vuelve negativo, el cupón baja a $6.167 y el capital no se reembolsa hasta el vencimiento.
  • Valoración final: capital totalmente protegido hasta -15%. Pérdidas mayores escalan a un valor hipotético de $650 a -50% y $150 a -100%.

Riesgos principales: los inversores pueden no recibir ningún cupón, pueden perder hasta el 85% del capital, no tienen ganancias más allá de los cupones, enfrentan riesgo de correlación entre dos activos diferentes y deben asumir el riesgo crediticio de Citigroup. Los valores no están listados en bolsa y se espera que coticen por debajo del valor de emisión en mercados secundarios.

Citigroup Global Markets Holdings Inc.는 Citigroup Inc.(티커: C)의 보증을 받아 5년 만기 자동상환 조건부 쿠폰 증권을 마케팅하고 있으며, 이는 두 기초자산 중 성적이 가장 낮은 자산에 연동됩니다: iShares 20년 이상 국채 ETF(TLT)와 S&P 500 Dynamic Participation Index(SPXDPU1)입니다.

주요 상업 조건

  • 조건부 쿠폰: 연 7.40% 이상(2025년 7월 29일 가격 결정 기준), 최저 성과 자산의 종가가 초기 가치의 80% 이상일 경우에만 매월 지급됩니다.
  • 자동상환 기능: 첫 해 이후 매월 평가일에 최저 성과 자산이 초기 가치의 100% 이상이면 원금과 쿠폰을 포함하여 액면가로 상환됩니다.
  • 하락 완충 장치: 15%. 자동상환되지 않고 최저 성과 자산이 15% 이상 하락하면 투자자는 완충 장치 초과 손실에 대해 원금 손실을 입습니다.
  • 만기 지급(2030년 7월 31일): 완충 장치가 유지되면 $1,000 지급; 그렇지 않으면 $1,000 + [$1,000 × (수익률 + 15%)] 지급. 가상 시나리오 기준 최소 상환액은 $150입니다.
  • 신용 노출: 지급은 Citigroup Global Markets Holdings Inc.의 선순위 무담보채무와 Citigroup Inc.의 보증에 따라 달라집니다.

예시 결과

  • 중간 평가: 최저 수익률이 -0.01% 이상이면, 노트는 $1,006.167(원금 + 쿠폰)로 상환됩니다. 수익률이 음수로 전환되면 쿠폰은 $6.167로 감소하며 원금은 만기까지 상환되지 않습니다.
  • 최종 평가: 원금은 -15%까지 완전히 보호됩니다. 더 큰 손실은 -50%에서 가상 가치 $650, -100%에서 $150으로 조정됩니다.

주요 위험: 투자자는 쿠폰을 전혀 받지 못할 수 있으며, 원금의 최대 85%까지 손실할 수 있고, 쿠폰 외에는 수익이 없으며, 상이한 두 자산 간 상관관계 위험을 감수해야 하며, Citigroup 신용 위험도 부담해야 합니다. 이 노트는 거래소에 상장되어 있지 않으며, 2차 시장에서 발행가 이하로 거래될 것으로 예상됩니다.

Citigroup Global Markets Holdings Inc., garanti par Citigroup Inc. (symbole : C), commercialise des titres à coupon conditionnel autocallables sur 5 ans liés au moins performant de deux sous-jacents : l'ETF iShares 20+ Year Treasury Bond (TLT) et l'indice S&P 500 Dynamic Participation (SPXDPU1).

Principaux termes commerciaux

  • Coupon conditionnel : ≥7,40 % par an (fixé lors du pricing du 29 juillet 2025), versé mensuellement uniquement si la valeur de clôture du moins performant est ≥80 % de sa valeur initiale.
  • Option autocall : mensuelle après la première année ; rappel au pair plus coupon si le moins performant est ≥100 % de sa valeur initiale à une date de valorisation.
  • Buffer à la baisse : 15 %. Si non rappelé et que le moins performant chute de plus de 15 %, les investisseurs perdent le capital au-delà du buffer, point par point.
  • Versement à l’échéance (31 juillet 2030) : 1 000 $ si le buffer tient ; sinon 1 000 $ + [1 000 $ × (rendement + 15 %)]. Remboursement minimum de 150 $ basé sur des hypothèses.
  • Exposition au crédit : Les paiements dépendent des obligations senior non garanties de Citigroup Global Markets Holdings Inc. et de la garantie de Citigroup Inc.

Résultats illustratifs

  • Valorisation intermédiaire : si le rendement du moins performant est ≥-0,01 %, la note est remboursée à 1 006,167 $ (capital + coupon). Une fois le rendement négatif, le coupon tombe à 6,167 $ et le capital n’est remboursé qu’à l’échéance.
  • Valorisation finale : capital entièrement protégé jusqu’à -15 %. Les pertes plus importantes correspondent à une valeur hypothétique de 650 $ à -50 % et 150 $ à -100 %.

Principaux risques : les investisseurs peuvent ne recevoir aucun coupon, perdre jusqu’à 85 % du capital, ne pas bénéficier d’une hausse au-delà des coupons, faire face au risque de corrélation entre deux actifs différents et doivent assumer le risque de crédit de Citigroup. Les notes ne sont pas cotées en bourse et devraient se négocier en dessous du prix d’émission sur les marchés secondaires.

Citigroup Global Markets Holdings Inc., garantiert von Citigroup Inc. (Ticker: C), bietet 5-jährige autocallable contingent coupon Wertpapiere an, die an den schlechtesten Performer von zwei Basiswerten gekoppelt sind: den iShares 20+ Year Treasury Bond ETF (TLT) und den S&P 500 Dynamic Participation Index (SPXDPU1).

Wesentliche kommerzielle Bedingungen

  • Bedingte Kuponzahlung: ≥7,40% p.a. (festgelegt am Pricing-Tag 29. Juli 2025), monatlich zahlbar, nur wenn der Schlusskurs des schlechtesten Performers ≥80% seines Anfangswertes beträgt.
  • Autocall-Funktion: monatlich nach dem ersten Jahr; Rückzahlung zum Nennwert plus Kupon, wenn der schlechteste Performer an einem Bewertungstag ≥100% seines Anfangswertes erreicht.
  • Abwärts-Puffer: 15%. Wird nicht autocalliert und fällt der schlechteste Performer um mehr als 15%, erleiden Anleger einen proportionalen Kapitalverlust über den Puffer hinaus.
  • Endfälligkeit (31. Juli 2030): 1.000 USD, wenn der Puffer hält; andernfalls 1.000 USD + [1.000 USD × (Rendite + 15%)]. Mindest-Rückzahlung 150 USD basierend auf hypothetischen Szenarien.
  • Kreditrisiko: Zahlungen hängen von den unbesicherten vorrangigen Verbindlichkeiten der Citigroup Global Markets Holdings Inc. und der Garantie von Citigroup Inc. ab.

Beispielhafte Ergebnisse

  • Zwischenbewertung: Liegt die schlechteste Rendite bei ≥-0,01%, wird die Note zu 1.006,167 USD (Kapital + Kupon) zurückgezahlt. Sobald die Rendite negativ wird, sinkt der Kupon auf 6,167 USD und das Kapital wird erst bei Fälligkeit zurückgezahlt.
  • Endbewertung: Kapital ist bis -15% vollständig geschützt. Tiefere Verluste führen hypothetisch zu 650 USD bei -50% und 150 USD bei -100%.

Hauptrisiken: Anleger erhalten möglicherweise keine Kupons, können bis zu 85% des Kapitals verlieren, haben keine Gewinnchancen über die Kupons hinaus, tragen ein Korrelationsrisiko zwischen zwei unterschiedlichen Assets und müssen das Kreditrisiko von Citigroup tragen. Die Notes sind nicht börsennotiert und werden voraussichtlich unter dem Ausgabepreis im Sekundärmarkt gehandelt.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): July 9, 2025

 

BITMINE IMMERSION TECHNOLOGIES, INC.

(Exact name of registrant as specified in its charter)

 

Delaware   001-42675   84-3986354

(State or other jurisdiction

of incorporation or organization)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

10845 Griffith Peak Dr. #2

Las Vegas, NV 89135

(Address of principal executive office) (Zip Code)

 

(404) 816-8240

(Registrants’ telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, par value $0.0001   BMNR   NYSE American LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)

 

Emerging Growth Company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 
 

 

Item 8.01 Other Events.

 

On July 9, 2025, Bitmine Immersion Technologies, Inc. (the “Company”) announced its entry into a Controlled Equity OfferingSM Sales Agreement (the “Sales Agreement”) with each of Cantor Fitzgerald & Co. (“Cantor”) and ThinkEquity, LLC (“ThinkEquity”) (each, an “Agent” and together, the “Agents”), pursuant to which the Company from time to time, at its option, may offer and sell shares (the “ATM Shares”) of its common stock, par value $0.0001 per share (the “Company Common Stock”) to or through Cantor, acting as principal and/or the sole designated sales agent, having an aggregate sales price of up to $2,000,000,000 (the “ATM Offering”).

 

Subject to the terms and conditions of the Sales Agreement, Cantor will use its commercially reasonable efforts consistent with its normal trading and sales practices to sell the ATM Shares from time to time, based upon the Company’s instructions. The Company has provided the Agents with customary indemnification and contribution rights in favor of the Agents, and the Agents will be entitled to a commission of up to 3% of the gross proceeds from each sale of the ATM Shares pursuant to the Sales Agreement.

 

Sales of the ATM Shares, if any, under the Agreement may be made in transactions that are deemed to be “at the market offerings” as defined in Rule 415 under the Securities Act of 1933, as amended or by any other method permitted by law. The Company has no obligation to sell any of the ATM Shares and may at any time suspend offers under the Sales Agreement or terminate the Sales Agreement.

 

The description of the Sales Agreement does not purport to be complete and is qualified in its entirety by reference to the Sales Agreement, which will be filed with the Securities and Exchange Commission (the “Commission”) by the Company.

 

The Company Common Stock to be sold under the Agreement, if any, will be issued and sold pursuant to the Company’s automatic shelf registration statement on Form S-3 (File No. 333-288579) (the “Registration Statement”), which was filed with the Commission on July 9, 2025, which included an “at the market offering” prospectus covering the offer and sale of the ATM Shares pursuant to the Sales Agreement.

 

Item 9.01 Financial Statements and Exhibits

 

(d) Exhibits.

 

Exhibit No.   Description
104   The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

 

 
 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  Bitmine Immersion Technologies, Inc.
     
Dated: July 9, 2025 By: /s/ Jonathan Bates
  Name: Jonathan Bates
  Title: Chief Executive Officer

 

 

FAQ

What coupon rate do Citigroup (C) Autocallable Contingent Coupon Securities pay?

They pay a contingent coupon of at least 7.40% per annum, set on 29-Jul-2025 and payable monthly if conditions are met.

How does the 15% buffer work on the Citigroup structured note?

At maturity, if the worst performer is ≥85% of its initial value, investors receive full principal; below that, losses begin point-for-point.

When can the Citigroup note be automatically called?

Beginning 12 months after issuance, on any monthly valuation date where the worst performer is ≥100% of its initial value.

What are the main risks of the C Free Writing Prospectus security?

Key risks include loss of principal beyond 15% downside, no guaranteed coupons, credit risk to Citi, dual-asset correlation risk, and illiquidity.

Which underlyings determine performance of the Citigroup Autocallable Security?

Performance is linked to the iShares 20+ Year Treasury Bond ETF (TLT) and the S&P 500 Dynamic Participation Index (SPXDPU1); the worse of the two is used.
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