BitNile Holdings Announces Dec. 30 As Record Date For Stock Dividend For Spinoff Of Imperalis Holding

Author: Bill Haddad | November 23, 2022 07:31am

BitNile Holdings, Inc. (NYSE:NILE), a diversified holding company ("BitNile" or the "Company"), announced today that its Board of Directors has declared a pro rata dividend to the stockholders of BitNile of (i) 140 million shares of common stock of Imperalis Holding Corp. (to be renamed TurnOnGreen, Inc.) ("TurnOnGreen"), which represents approximately 81% of the outstanding shares of TurnOnGreen common stock, and (ii) warrants to purchase an additional 140 million shares of TurnOnGreen common stock (the "Distribution Securities" and the transaction, the "Distribution"). BitNile stockholders of record as of the close of business on December 30, 2022 (the "Record Date") will receive the Distribution Securities, which will be payable on January 5, 2023 (the "Distribution Date").

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