BitNile establishes at-the-market program to sell series D preferreds for up to $46.4 million

By Wendy Van Sickle

Columbus, Ohio, June 14 – BitNile Holdings Inc. established an at-the-market equity offering program under which it may sell, from time to time, shares of its 13% series D cumulative redeemable perpetual preferred stock for proceeds up to $46.4 million, according to a news release.

Ascendiant Capital Markets, LLC will act as the sales agent.

Proceeds will be used 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.

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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