By Marisa Wong
Los Angeles, May 31 – BitNile Holdings Inc. priced $3,085,575, or 123,423 shares, of 13% series D cumulative redeemable perpetual preferred stock at par of $25.00, according to a 424B5 filing with the Securities and Exchange Commission.
The preferreds will be redeemable at $25.50 per share for the first three years and at $25.00 per share thereafter.
Alexander Capital, LP is the underwriter.
Proceeds will be used for the purchase of Bitcoin miners and for general corporate purposes.
The company has applied to list the preferreds on the New York Stock Exchange under the symbol “NILEPrD.”
BitNile is a diversified holding company based in Las Vegas that acquires undervalued businesses and disruptive technologies and owns and operates a Bitcoin mining data center, provides products that support industries such as defense and automotive and extends credit to select businesses through a licensed lending subsidiary.
| Issuer: | BitNile Holdings Inc.
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| Amount: | $3,085,575
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| Issue: | Series D cumulative redeemable preferred stock
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| Maturity: | Perpetual
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| Underwriter: | Alexander Capital, LP
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| Transfer agent: | Computershare Trust Co., NA
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| Counsel to issuer: | Olshan Frome Wolosky LLP
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| Counsel to underwriter: | Cozen O’Connor PC
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| Dividend: | 13%
|
| Price: | Par of $25.00
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| Call option: | At $25.50 per share for the first three years; at $25.00 per share after that
|
| Pricing date: | May 31
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| Settlement date: | June 2
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| Listing: | NYSE: NILEPrD
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| Distribution: | SEC registered
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