Ault Alpha Has Purchased 50 Million Shares of Common Stock of BitNile Holdings, Inc.
December 30 2022 - 06:30AM
BitNile Holdings, Inc. (NYSE American: NILE), a diversified
holding company (“BitNile” or the “Company”), announced today that
its related party, Ault Alpha, LP (“Ault Alpha”), has
purchased an aggregate of 50 million shares of common stock of
BitNile since it first started buying in September 2021. Ault Alpha
purchases common stock of BitNile pursuant to a plan previously
adopted pursuant to Rule 10b5-1 and Rule 10b-18 of the Securities
Exchange Act of 1934, as amended. The 50 million shares of common
stock represent approximately 13% of the Company as of today.
“BitNile reported approximately $610 million in total assets as
of September 30, 2022 and recently completed the acquisition of
Circle 8, the crane company. Ault Alpha intends to continue its
purchase of common stock of BitNile if the current market
conditions continue. Ault Alpha anticipates adopting a new
10b5-1/10b-18 plan in the near future,” said Milton “Todd” Ault,
III, the controlling person of Ault Alpha and the Executive
Chairman of BitNile.
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 oil exploration, crane services,
defense/aerospace, industrial, automotive, medical/biopharma,
consumer electronics, hotel operations 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
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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