Benzinga | Nov 22, 2021 06:34AM EST

Ault Global Holdings Plans To Change Name To BitNile Holdings And Split Into Two Public Companies

* Ault Global Holdings, Inc. (the "Company") to change its name to BitNile Holdings, Inc. and stock symbol to NILE by the end of 2021;

* Company to reorganize operations into two primary subsidiaries, BitNile, Inc. ("BitNile") and Ault Alliance, Inc. ("Ault Alliance");

* Ault Alliance to be spun off as a separate public company to stockholders in 2022;

* BitNile will focus on Bitcoin mining, data center operations and decentralized finance ("DeFi") initiatives;

* Ault Alliance will focus on lending and investing, defense, and power solutions, including electric vehicle ("EV") charging products; and

* Company to host a conference call and webcast at 6:00 am Pacific time today.