Bitari Inc., a Bitcoin mining host, has filed a preliminary prospectus for a Nasdaq listing. The proposed structure gives new investors just 10% of shares in exchange for 99.8% of the capital raised. The offering would sell 4,285,715 shares at $7 each for gross proceeds of $30 million, while existing shareholders retain 90% of the company for a contribution of $45,000. AI Power X Inc. would hold 85.87% of voting power, making Bitari a controlled company. About 40% of net proceeds, roughly $10.78 million, are earmarked for strategic acquisitions with no target identified yet.
Source: Read the original article
