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Wednesday, May 25, 2022

$66 Million Senior Secured Notes Payment: BitNile Holdings, Inc. (NILE) Stock Up in Premarket.

BitNile Holdings, Inc. (NILE) is a diversified holding enterprise that buys underrated businesses with a worldwide impact. The company also possesses and operates a Bitcoin mining data center and is the core provider of key products including defense, aerospace, automotive, medical, telecommunications, and textiles products.

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NILE stock price during the regular trading session of March 25, 2022, was $0.82 with a leap of 12.3%. Its price rose further as of the writing in the premarket session of March 28, 2022, by 34.4%.

NILE: Events and Happenings

On March 28, 2022, NILE reported that during this week, it will pay off its senior secured notes. The 10% notes were sold in December 2021 and are payable on March 31, 2022. The security interest is released after the repayment of the notes in most of the company’s assets, along with the equity interests’ pledges’ in its subsidiaries. The repayment will also eradicate several restrictive covenants, thus permitting the company to advance with the proposed plans related to its subsidiary.

On March 18, 2022, NILE updated on the recommencement of work on its Level 3 EV chargers’ installation by the company’s subsidiary TurnOnGreen. The installation procedure is preliminary for the three Tim Hortons restaurant locations.

NILE: Key Financials

NILE released its three months financials on November 19, 2021, for the quarter ended September 30, 2021. Some key features are discussed below.


The company posted total revenue during the quarter in 2021 was $30.7 million as compared to $5.67 million during the comparable period in 2020. Its revenue observed a hefty gain of $25.1 million YoY along with remaining in line with the analysts’ expectations.


Net loss basic and diluted in the 2021 three months was $42.7 million or $0.73 per share in comparison to $16.7 million or $1.69 per share during the corresponding three months of 2020. The company’s net loss declined considerably YoY and its EPS remained in line with the experts’ estimations.


NILE stock touched a new low of 72% during the past year as the flaccid economy is still fighting with the impact of the pandemic. The present premarket stock rocketing came following the company’s statement regarding senior secures notes repayment. For the upcoming quarter, the expected earnings release date is April 14, 2022, and the revenue expectations are $8.98 million and EPS estimations are -$0.06.


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