BitNile Holdings Obtains $14.7 Million in Secured Debt Financing to Support Private Equity Investment

BitNile Holdings, Inc., a diversified holding firm ('BitNile’ or the Company’), announced today that it had borrowed $14.7million of principal amount from an accredited shareholder and investor. The Note will mature on March 16, 2023. However, if the Company pays at least $12,000,000 in principal payments on or before the maturity date the Company can extend the maturity period by 45 days. In this case, the Company must pay a fee of 10% of any outstanding balance as of the original maturity dates. The Note is protected by certain assets and subsidiaries of the Company. The Note's proceeds will be used to fund one of the Company’s first investments in private equity, the previously announced agreement for the purchase of substantially all the operating assets of Circle 8 Crane Services LLC ("Circle 8") which is expected to close today. Milton 'Todd" Ault III, the Company's founder and executive chairman, stated, "Chris Wu, I and I are very happy to close this financing related what I believe will transformal acquisition of Circle 8's crane operations. This is expected to be a key component of our initiatives for energy and infrastructure. BitNile Holdings, Inc., is a multi-faceted holding company that focuses on growth through acquisitions of undervalued businesses and disruptive technologies. BitNile, through its majority-owned subsidiary and strategic investments, owns and operates a data centre that mines Bitcoin. It also provides mission-critical products to support a wide range of industries including oil exploration and defense/aerospace. BitNile also offers credit to selected entrepreneurs through its licensed lending subsidiary. This press release contains "forward-looking statements" within the meaning of Section 27A of Securities Act of 1933, as modified, and Section 21E of Securities Exchange Act of 1934. These forward-looking statements include statements that are forecastive in nature and depend on or refer to future events and conditions. They include words like believes', anticipates', ’projects',?estimates', _estimates', _intends', & strategy', â€TMfuture', â€TMpotential, &'should' and. Forward-looking statements are those that do not reflect historical facts. Forward-looking statements are made based on current beliefs, assumptions, and are subject to uncertainties. Forward-looking statements are only valid as of the date made. The Company does not undertake any obligation to revise them publicly to reflect new information or future events. Due to various factors, actual results may differ materially from the ones contained in forward-looking statements. Businesswire.com: URL