BitNile Announces At the Market Offering of Shares of 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock
June 14 2022 - 5:15PM
Business Wire
BitNile Holdings, Inc. (NYSE American: NILE), a diversified
holding company (“BitNile” or the “Company”),
announced today that it has established an “at-the-market” equity
offering program under which it may sell, from time to time, shares
of its 13.00% Series D Cumulative Redeemable Perpetual Preferred
Stock (the “Series D Preferred Stock”) for aggregate gross proceeds
of up to $46,400,000. The shares of Series D Preferred Stock will
be offered through Ascendiant Capital Markets, LLC, which will act
in its capacity as sales agent (the “Agent”).
Pursuant to a sales agreement with the Agent, sales of shares of
the Company's Series D Preferred Stock may be made in transactions
that are deemed to be “at-the-market” offerings, including sales
made by means of ordinary brokers’ transactions on the NYSE
American or otherwise at market prices prevailing at the time of
sale or as agreed to with the Agent.
The Company intends to use the net proceeds from the
“at-the-market” equity offering, if any, for the financing of
possible acquisitions of other companies and technologies, the
purchase of bitcoin miners, business expansions and investments and
for working capital and general corporate purposes, which may
include the repayment, refinancing, redemption or repurchase of
future indebtedness or capital stock. The Company does not have
agreements or commitments for any specific acquisitions at this
time.
The shares of Series D Preferred Stock described above are being
offered pursuant to a shelf registration statement on Form S-3
(File No. 333-260618), which was declared effective by the
Securities and Exchange Commission ("SEC") on November 12, 2021.
Such shares of Series D Preferred Stock may be offered only by
means of a prospectus, including a prospectus supplement, forming a
part of the effective registration statement. Before making an
investment in these securities, potential investors should read the
prospectus supplement and the accompanying prospectus for more
complete information about the Company and the “at-the-market”
equity offering program. Potential investors may obtain these
documents for free by visiting EDGAR on the U.S. Securities and
Exchange Commission’s website at www.sec.gov. Alternatively,
potential investors may contact the Agent, who will arrange to send
them these documents: Ascendiant Capital Markets, LLC, Attention:
Jennifer Martin, 110 Front Street, Suite 300, Jupiter, Florida
33477, telephone: (561) 427-7788, email:
jmartin@ascendiant.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
For more information on BitNile and its subsidiaries, BitNile
recommends that stockholders, investors, and any other interested
parties read BitNile’s public filings and press releases available
under the Investor Relations section at www.BitNile.com or
available at www.sec.gov.
About BitNile Holdings, Inc.
BitNile Holdings, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, BitNile owns
and operates a data center at which it mines Bitcoin and provides
mission-critical products that support a diverse range of
industries, including defense/aerospace, industrial, automotive,
telecommunications, medical/biopharma and textiles. In addition,
BitNile extends credit to select entrepreneurial businesses through
a licensed lending subsidiary. BitNile’s headquarters are located
at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV
89141; www.BitNile.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are
made, and the Company undertakes no obligation to update any of
them publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8- K. All filings are available at www.sec.gov and on the Company’s
website at www.BitNile.com.
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BitNile Holdings Investor Contact: IR@BitNile.com or
1-888-753-2235
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