NILE - BitNile subsidiary Ault Alliance to purchase EYP and affiliates for $68M

BitNile (NYSE:NILE) subsidiary, Ault Alliance agreed to lend ~$12M through a super-priority debtor-in-possession loan to and entered into an asset purchase agreement with, EYP and its affiliates providing for the acquisition of all of EYP's assets for consideration of ~$68M. EYP is an integrated architecture, engineering, and design services company specializing in higher education, healthcare, government and science & technology; EYP has interdisciplinary offices in 11 cities across U.S. Under the purchase, Ault Alliance will be able to include the value of its DIP loan as part of its bid at closing. Sale process is expected to be completed by June 2022 in which period the sale will continue to operate in the ordinary course providing services to its customers.

For further details see:

BitNile subsidiary Ault Alliance to purchase EYP and affiliates for $68M