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BitNile Holdings, Inc. (NILE) has announced the sale of $58.4 million in 10% Original Issuance Discount Promissory Notes for $52.2 million to sophisticated investors. The Notes, due March 31, 2022, accrue 8% interest and are secured by the majority of the Company’s assets. Investors received warrants for approximately 12.4 million shares at $2.50 per share. Proceeds will be utilized for purchasing commercial real estate, Bitcoin mining equipment, and general working capital. The Notes are guaranteed by Founder Milton Ault and Ault & Company.
BitNile Holdings (NILE) announced a share exchange agreement to acquire Gresham Worldwide (GWW) via Giga-tronics (GIGA), expected to enhance their electronic solutions for the defense industry. This strategic move aims to create synergies, broaden market reach, and improve competitive stance in RF and electronic warfare systems, positioned to meet the growing global demand, with combined revenues near
BitNile Holdings, Inc. (AMEX: NILE) announced the acquisition of four hotels for $69 million through its subsidiary Ault Global Real Estate Equities, Inc. (AGREE). The properties, including two Marriott and two Hilton hotels, comprise 526 rooms located in Middleton, WI, and Rockford, IL. Cash payments of $23.9 million were made at closing, with the remainder financed through loans. AGREE plans to invest $13.7 million in renovations over the next 18 months. The hotels will be managed by GF Hotels & Resorts. This marks AGREE's inaugural investment in commercial real estate.
Ault Disruptive Technologies Corporation has priced its IPO at $10.00 per unit, aiming to raise funds through the sale of 10,000,000 units. Each unit includes one share of common stock and three-fourths of a warrant, exercisable at $11.50. Trading is set to commence on the NYSE American under the symbol 'ADRTU' on December 16, 2021, with expected closure on December 20, 2021. The company focuses on acquiring firms in innovative technologies with an enterprise value between $200 million and $500 million. Alliance Global Partners is the sole book-running manager for this offering.
BitNile Holdings (NILE) has authorized a stock repurchase program allowing up to $50 million in share buybacks over three years starting December 15, 2021. The buyback may occur via various methods, including open market purchases, and will comply with Rule 10b5-1 and other regulations. The Company plans to finance these repurchases through excess cash flow, existing cash, and potential future borrowings. This move demonstrates the Board's confidence in the company's growth prospects, aiming to enhance shareholder value.
BitNile Holdings, Inc. (NYSE American: NILE) announced that its subsidiary, BitNile, Inc., has completed a $15 million Series A investment in Earnity Inc., a decentralized finance marketplace based in San Mateo, California. This investment was initially disclosed on December 6, 2021. BitNile Holdings aims to pursue growth by acquiring undervalued businesses and technologies. Its operations include Bitcoin mining and providing support across diverse industries, including automotive and telecommunications. For additional details, visit the company’s website or SEC filings.
BitNile Holdings, Inc. (NYSE American: NILE) has officially changed its name from Ault Global Holdings, Inc. and will begin trading under the new ticker symbol NILE. This transition coincides with the company's plan to spin off Ault Alliance, Inc., positioning BitNile as a dedicated provider of Bitcoin mining and data center operations. The company aims to increase active miners to 20,600 by the end of 2022, aspiring to rank among the top 10 publicly traded Bitcoin mining companies.