BitNile Holdings Announces Completion of Payment in Full of $66 million in Senior Secured Notes

Rhea-AI Summary

BitNile Holdings, Inc. (NYSE American: NILE) has announced the full repayment of its senior secured notes along with accrued interest, as initially disclosed on March 28, 2022. This repayment marks a significant financial milestone for the diversified holding company, which focuses on acquiring undervalued businesses and disruptive technologies. BitNile operates a Bitcoin mining data center and offers mission-critical products across various industries including defense and telecommunications. For more details, investors are encouraged to view the company’s public filings.

Positive

• Fully repaid senior secured notes, enhancing financial stability.

Negative

• None.

LAS VEGAS--(BUSINESS WIRE)-- BitNile Holdings, Inc. (NYSE American: NILE), a diversified holding company (“BitNile” or the “Company”), announced today that it fully paid off its senior secured notes, including accrued but unpaid interest thereon, as initially announced on March 28, 2022.

For more information on BitNile and its subsidiaries, BitNile recommends that stockholders, investors, and any other interested parties read BitNile’s public filings and press releases available under the Investor Relations section at www.BitNile.com or available at www.sec.gov.

About BitNile Holdings, Inc.

BitNile Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, BitNile owns and operates a data center at which it mines Bitcoin and provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma and textiles. In addition, BitNile extends credit to select entrepreneurial businesses through a licensed lending subsidiary. BitNile’s headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.BitNile.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.BitNile.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220331005480/en/

BitNile Holdings Investor Contact:

IR@BitNile.com or 1-888-753-2235

Source: BitNile Holdings, Inc.

FAQ

What recent financial action did BitNile Holdings (NILE) announce?

BitNile Holdings announced the full repayment of its senior secured notes, including accrued interest.

When did BitNile Holdings (NILE) announce the repayment of its senior secured notes?

The repayment was announced on the same date as the initial announcement, which was March 28, 2022.

How does BitNile Holdings (NILE) generate revenue?

BitNile generates revenue by operating a Bitcoin mining data center and providing mission-critical products across various industries.

What industries does BitNile Holdings (NILE) serve?

BitNile serves industries including defense/aerospace, automotive, telecommunications, and medical/biopharma.