BitNile Holdings Obtains $52.2 Million in Secured Debt Financing [MarketWatch]
BitNile Holdings, Inc. (NILE)
US:NASDAQ Investor Relations:
phx.corporate-ir.net/phoenix.zhtml?c=177247&p=irol-sec_pf
Company Research
Source: MarketWatch
LAS VEGAS, (BUSINESS WIRE) -- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“ BitNile ” or the “ Company ”) announced today that it has sold $58.4 million of principal face amount 10% Original Issuance Discount Promissory Notes (the “ Notes ”) to sophisticated investors for $52.2 million (the “ Financing ”). The Notes are due and payable on March 31, 2022, accrue interest at the rate of 8% per annum and are secured by a majority of the assets of the Company, as well as a pledge of the equity interests in the Company's subsidiaries. The investors who participated in the Financing received warrants to purchase approximately 12.4 million shares of the Company's common stock (“ Common Stock ”), exercisable for five years at $2.50 per share on a cashless basis, subject to adjustment. Further, the investors received a different kind of warrant that entitles them to purchase approximately 1.7 million shares of Common Stock, exercisable for five years at $2.5
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