NILE - BitNile Holdings to pay off $66M of its senior secured notes

BitNile Holdings (NYSE:NILE) is rising higher 32.03% premarket after the firm announces to pay off its senior secured notes. The 10% original issuance discount promissory notes were sold in December 2021 and are due and payable on March 31, 2022. The repayment of the notes will release the security interest in most of the assets of the Company, as well as the pledges of equity interests in the Company’s subsidiaries. Further, the repayment of the notes will eliminate certain restrictive covenants, allowing the Company to move forward with the announced plans related to its subsidiary TurnOnGreen, an electronic vehicle charging and power solutions company.

For further details see:

BitNile Holdings to pay off $66M of its senior secured notes