DPW Holdings Makes Investment in WSI Industries, Inc.
January 05 2018 - 6:30AM
DPW Holdings, Inc. (NYSE American: DPW) ("
DPW" or
the "
Company"), a diversified holding company, on
Thursday, January 4, 2018 filed with the SEC a Form 13-D disclosing
it has purchased 228,929 shares of the common stock of WSI
Industries, Inc. (NASDAQ: WSCI). This investment represents an
equity position of 7.76% of WSCI’s outstanding common stock, making
DPW the largest shareholder of WSI. WSI Industries, Inc. is a
68-year-old Minnesota corporation founded in 1950 under the name
Washington Scientific Industries. WSI has earned a reputation of
being a leading contract manufacturer specializing in the machining
of complex, high-precision parts for a wide range of industries,
including automotive, avionics and aerospace, energy, recreational
powersports vehicles, small engines, marine, bioscience and the
defense markets.
“As outlined during our webinar held on December 20, 2017, our
investment in WSI Industries is aligned with our growth strategy.
We are committed to continue to execute on our plans,” said Milton
“Todd” Ault, III, the Company’s Chief Executive Officer and
Chairman.
The Company stated it would keep the market updated on any
developments or substantial changes in its investment in WSI
Industries, Inc.
ABOUT DPW HOLDINGS, INC.
Headquartered in Fremont, CA, DPW Holdings, Inc. is a
diversified holding company that, through its wholly owned
subsidiary, Coolisys Technologies, Inc., is dedicated to providing
world-class technology-based solutions where innovation is the main
driver for mission-critical applications and lifesaving services.
Coolisys’ growth strategy targets core markets that are
characterized by “high barriers to entry” and include specialized
products and services not likely to be commoditized. Coolisys
through its portfolio companies develops and manufactures
cutting-edge resonant switching power topologies, specialized
complex high-frequency radio frequency (RF) and microwave
detector-log video amplifiers, very high-frequency filters and
naval power conversion and distribution equipment. Coolisys
services the defense, aerospace, medical and industrial sectors and
manages four entities including Digital Power Corporation,
www.DigiPwr.com, a leading manufacturer based in Northern
California, 1-877-634-0982; Digital Power Limited dba Gresham Power
Ltd., www.GreshamPower.com, a manufacturer based in Salisbury, UK.;
Microphase Corporation, www.MicroPhase.com with its headquarters in
Shelton, CT 1- 203-866-8000; and Power-Plus Technical Distributors,
www.Power-Plus.com, a wholesale distributor based in Sonora, CA
1-800-963-0066.
Digital Power Lending, LLC, a wholly owned subsidiary of the
Company, is based in Fremont, CA, and is a California private
lending company dedicated to strategically providing capital to
small and middle size businesses for an equity interest in addition
to loan fees and interest, www.DigitalPowerLending.com. Excelo,
LLC, a wholly-owned subsidiary of the Company, is a national search
firm specializing in fulfilling strategic executive, professional
and hi-tech placements for businesses delivering world-class
services, www.Excelo.com. DPW Holdings, Inc.’s headquarters is
located at 48430 Lakeview Blvd., Fremont, California, 94538;
1-877-634-0982; www.DPWHoldings.com.
For Investor inquiries: IR@DPWHoldings.com or
1-888-753-2235.
Forward-Looking Statements
The foregoing release contains “forward looking statements”
within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange
Act of 1934, as amended, including statements regarding the
acquisition and the ability to consummate the
acquisition. These forward-looking statements generally
include statements that are predictive in nature and depend upon or
refer to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.DPWHoldings.com.
Ault Global (AMEX:DPW)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ault Global (AMEX:DPW)
Historical Stock Chart
From Apr 2023 to Apr 2024