Ault Alliance, a diversified holding company, has disclosed that Ault & Company, Inc., an affiliate, has made a substantial investment totaling $44.0 million in accordance with the Securities Purchase Agreement signed between the two entities on November 6, 2023. This investment represents the acquisition of 44,000 shares of Series C convertible preferred stock and warrants to purchase approximately 13.0 million shares of the Company.
Under the Agreement, Ault & Company has the opportunity to invest up to $75.0 million in Series C Preferred Stock and Series C Warrants across multiple closings. Milton “Todd” Ault, III, the Executive Chairman of the Company and CEO of Ault & Company, expressed confidence in Ault Alliance’s growth prospects, emphasizing the infusion of capital as a testament to their belief in the company’s trajectory. He highlighted the exponential growth from less than $8 million in annual sales in 2017 to projecting over $200 million for the current fiscal year. Ault underscored the focus on core businesses including Sentinum data centers, Circle 8 crane rentals, and investing and lending, noting the potential growth in the Sentinum business due to increased demand in the artificial intelligence data center space.
Additionally, Mr. Ault emphasized the shared vision between Ault Alliance and Ault & Company, anticipating significant progress in their respective sectors and a fruitful collaboration. He expressed excitement about the partnership’s potential to create enhanced value for shareholders.
For further information on Ault Alliance and its subsidiaries, interested parties are encouraged to explore the Investor Relations section on Ault Alliance’s website or review public filings and press releases available on www.sec.gov.
About Ault Alliance, Inc. Ault Alliance, Inc. is a diversified holding company focused on acquiring undervalued businesses and disruptive technologies with global impact. Operating through wholly and majority-owned subsidiaries and strategic investments, Ault Alliance is engaged in various sectors including data centers, metaverse platforms, oil exploration, crane services, defense/aerospace, and more.
Forward-Looking Statements This press release includes forward-looking statements within the meaning of applicable securities laws. These statements are predictive in nature and depend on future events or conditions. Forward-looking statements may include words such as “believes,” “plans,” “anticipates,” “projects,” and similar expressions. Actual results could differ materially from these statements due to various factors, and the Company undertakes no obligation to update forward-looking statements. Interested parties are advised to review the Company’s filings with the U.S. Securities and Exchange Commission for more information on potential risk factors.
