NILE - BitNile stock surges on planned spin-offs creating four public entities
- BitNile ( NYSE: NILE ) shares surged 10% pre-market on Friday after it announced planned spin-offs that, once completed, will create four public companies.
- EV charging and power solutions firm TurnOnGreen became a publicly traded company on Sep 6, 2022 pursuant to its acquisition by BitNile subsidiary, Imperalis Holding ( OTCPK:IMHC ).
- Electronic solutions firm Gresham Worldwide went public on Sep 8, 2022 pursuant to closing of a share exchange agreement with Giga-tronics.
- Ault Alliance, a diversified holding company focused on Bitcoin mining, data center operations, commercial lending, activist investing, oil exploration, hotel operations and other commercial real estate holdings, is planned to become a public reporting company in the first half of 2023.
- Upon completion of the spin-offs, BitNile ( NILE ) will have distributed substantially all of its nearly $600M assets to its shareholders. It will retain sufficient capital to continue development of a new Bitcoin marketplace platform.
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BitNile stock surges on planned spin-offs creating four public entities