BitNile Unveils Plan to Spin Off Holding Company into Four Public Entities [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
The investment holding company said the spin-offs would result in the distribution of most of the group's assets to its shareholders, who would become owners of the new companies. BitNile said it also intends to see its biotechnology subsidiary Ault Alliance Inc. become a publicly reporting holding company in the first half of 2023. After the spinoffs, BitNile will retain sufficient capital to continue development of a new bitcoin marketplace platform, the company said. Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
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