NILE - BitNile shares rise on pricing of Series D preferred stock offering

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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BitNile shares rise on pricing of Series D preferred stock offering