BitNile increases $25-par 13% perpetual preferreds to $3.6 million

By Wendy Van Sickle

Columbus, Ohio, June 1 – BitNile Holdings Inc. revised the pricing of its 13% series D cumulative redeemable perpetual preferred stock to increase the issue size to $3.6 million, or 144,000 shares, up from the $3,085,575, or 123,423 shares, announced on Tuesday.

The revision was announced in a news release on Wednesday.

The notes priced at par of $25.00, as reported.

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.

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