Bitnile holdings obtains $14.7 million in secured debt financing to support private equity investment

Las vegas--( business wire )--bitnile holdings, inc. (nyse american: nile), a diversified holding company (“bitnile” or the “company”) announced today that it borrowed $14.7 million of principal amount of a secured promissory note (the “note”) from an accredited investor and shareholder. the note matures on march 16, 2023, although if the company repays at least $12 million of principal payment on or before the maturity date, the company may extend the maturity date by 45 days by paying a fee of 10% of the outstanding balance owed as of the original maturity date. the note is secured by certain assets of the company and various subsidiaries. the purchase price for the note was $13.5 million, of which $12 million was paid in cash and $1.5 million was a non-accountable expense allowance.
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