NILE - BitNile subsidiary files registration statement related to planned dividend distribution

• BitNile ( NYSE: NILE ) shares gained ~6% premarket on Monday after its Imperalis Holding subsidiary filed a registration statement related to the planned dividend distribution to BitNile ( NILE ) shareholders.
• Imperalis, to be renamed TurnOnGreen, filed for the registration of 140M shares of its common stock and warrants to purchase 140M shares of its common stock to be distributed as a dividend payable to the stockholders of BitNile common stock.
• The shares are currently held by BitNile ( NILE ).
• Once the Form S-1 is effective, the shares and warrants of TurnOnGreen that BitNile shareholders will be receiving will be registered with the SEC, which will permit the BitNile shareholders, subject to certain securities laws and rules discussed in the prospectus, to sell these securities from time to time in either public or privately negotiated transactions.

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