RiskOn International, Inc. (formerly known as BitNile Metaverse, Inc.), a company specializing in the development and operation of an online metaverse platform, has filed a prospectus with the SEC under Rule 424(b)(3) for the resale of up to 40,000,000 shares of common stock. The shares are being offered by Arena Business Solutions Global SPC II, Ltd., on behalf of Segregated Portfolio #3 – SPC #3 (the Selling Stockholder), which has the right to purchase shares from RiskOn International pursuant to a Purchase Agreement dated August 24, 2023. The agreement, which was amended on October 18, 2023, allows RiskOn International to direct the Selling Stockholder to purchase up to $100 million worth of common stock. As of January 19, 2024, RiskOn International has issued and sold 20,538,845 shares to the Selling Stockholder for...Show More

RiskOn International, Inc. (formerly known as BitNile Metaverse, Inc.), a company specializing in the development and operation of an online metaverse platform, has filed a prospectus with the SEC under Rule 424(b)(3) for the resale of up to 40,000,000 shares of common stock. The shares are being offered by Arena Business Solutions Global SPC II, Ltd., on behalf of Segregated Portfolio #3 – SPC #3 (the Selling Stockholder), which has the right to purchase shares from RiskOn International pursuant to a Purchase Agreement dated August 24, 2023. The agreement, which was amended on October 18, 2023, allows RiskOn International to direct the Selling Stockholder to purchase up to $100 million worth of common stock. As of January 19, 2024, RiskOn International has issued and sold 20,538,845 shares to the Selling Stockholder for gross proceeds of $3,006,996, with an additional $96,993,004 worth of shares available for future sales under the agreement. The company will not receive any proceeds from the sale of shares by the Selling Stockholder but may receive up to $100 million from future sales of its common stock to the Selling Stockholder. The funds received are expected to be used for general corporate purposes, including working capital and growth initiatives. The Selling Stockholder is considered an underwriter within the meaning of the Securities Act of 1933. RiskOn International's common stock is traded on The Nasdaq Capital Market under the symbol 'ROI'.