BitNile shares rise on pricing of Series D preferred stock offering

May 31, 2022 6:54 AM ETBitNile Holdings, Inc. (NILE)By: Preeti Singh, SA News Editor6 Comments
  • BitNile Holdings (NYSE:NILE) shares popped 4% pre-market after the firm priced its public offering of 123,423 shares of its 13.00% Series D Cumulative Redeemable Perpetual Preferred Stock at $25/share.
  • Gross proceeds from the offering are expected to be ~$3.08M. The company plans to use substantially all the net proceeds for the purchase of bitcoin miners, with the remainder for general corporate purposes.
  • Offering is expected to close around June 2, 2022.
  • The Series D Preferred Stock is likely to start trading on the New York American Stock Exchange under the symbol "NILE PRD" around June 3, 2022.

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