BitNile to rebrand to Ault Alliance
Dec. 20, 2022 6:48 AM ETAult Alliance, Inc. (AULT)By: Preeti Singh, SA News Editor8 Comments
- BitNile (NYSE:NILE) shares gained 2% premarket on Tuesday after the company announced its plan to merge its wholly-owned subsidiary Ault Alliance with and into BitNile.
- On January 3, 2023, the effective date of the merger, the company will change its name to Ault Alliance and its ticker will be changed to "AULT."
- BitNile's (NILE) founder and executive chairman, Milton Ault, III said, "The name change to Ault Alliance reflects the changes we began to build in 2017 and grow to become the diversified holding company we are today. We have built a diversified portfolio of companies with assets totaling more than $600M. In the months ahead, we plan to operate in three main segments."