NILE - BitNile's TurnOnGreen agrees to be acquired by Imperalis Holding

BitNile Holdings (NYSE:NILE) and its subsidiary TurnOnGreen, an electronic vehicle charging and power solutions company have entered into a securities purchase agreement with Imperalis Holding, pursuant to which TurnOnGreen will become a subsidiary of Imperalis. Per the terms, BitNile (NILE) to distribute ~140M shares and an equal number of warrants to purchase shares of TurnOnGreen to BitNile Holdings’ stockholders. Upon closure, Imperalis will change its name to TurnOnGreen and, through an upstream merger whereby the current TurnOnGreen shall cease to exist, have two operating subsidiaries, TOG Technologies Inc. and Digital Power Corporation. Subsequently, Imperalis will dissolve its three dormant subsidiaries. Additionally, BitNile will assist TurnOnGreen in pursuing an uplisting to the Nasdaq Capital Market. TurnOnGreen will continue to be led by its Chief Executive Officer, Amos Kohn and its Chief Revenue Officer, Marcus Charuvastra.

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BitNile's TurnOnGreen agrees to be acquired by Imperalis Holding