DPW Holdings, Inc. (NYSE American: DPW)
("
DPW" or the "
Company"), a
diversified holding company, hereby announces that it has raised
$1,010,000 in new debt financing through the entry into a
Securities Purchase Agreement with institutional investors for the
issuance of (i) Secured Promissory Notes (“
Notes”)
with an aggregate principal face amount of $1,212,000, and (ii)
400,000 shares of common stock. The shares of common stock will be
issued subject to NYSE/American approval, and subsequently be
registered pursuant to a new registration statement on Form S-3.
The Notes are not convertible. In connection with this financing,
the Company and Super Crypto Mining, Inc. (“
SCM”)
granted the investors a springing security interest in SCM’s
assets.
The new funding is the second of a series of investments in the
real estate sector, which the Company continues to see as a
long-term source of new stable revenue for its investors. This
foundational investment will be used to finance its participation
in the construction of the five-star ultra-luxury Manhattan hotel
development previously announced on May 25, 2018. To date, DPW
Holdings has invested approximately $2MM in the 94,000 square foot
hotel project featuring 96 opulent appointed rooms and suites,
located one block east of the Hudson River, in the heart of the
TriBeCa North Historic District. As previously disclosed, DPW
is investing alongside venerable New York real estate development
companies, Mactaggart Family & Partners LP and Caspi
Development.
“The Company continues to grow its assets through financing that
seeks to minimize the issuance of equity and the cost of debt. We
continue to pursue transactions that are accretive to the Company’s
balance sheet,” said Milton “Todd” Ault, III, the Company’s CEO and
Chairman. On June 8, 2018, the Company became a limited partner by
entering into a limited partnership agreement in a partnership
responsible for the construction and related activities of the
hotel. DPW, as a limited partner, has agreed to finance a portion
of the capital required by the partnership.
ABOUT DPW HOLDINGS, INC.Headquartered in
Newport Beach, CA, DPW Holdings, Inc. (www.DPWHoldings.com), is a
diversified holding company a growth strategy of acquiring
undervalued assets, disruptive technologies, sustainable solutions,
and exciting ventures for incubation and development to their full
potential for long-term growth and investor returns.
The Company 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
serves the defense, aerospace, naval, homeland security, medical,
telecom, datacom, and industrial markets. Coolisys’ growth strategy
targets core markets that are characterized by “high barriers to
entry” and require specialized products and services that are not
likely to be commoditized. Coolisys through its portfolio companies
develops and manufactures cutting-edge products and power solutions
utilizing its customized digital power management and resonant
topology to achieve the highest efficient and highest density power
converters and inverters, specialized complex airborne
high-frequency radio frequency (RF) and microwave detector-log
video amplifiers (DVLA), very high-frequency filters and naval
power conversion and distribution equipment. Coolisys manages four
entities including Digital Power Corporation, www.DigiPwr.com, a
leading manufacturer of power electronics and technology based in
Northern California, 1-877-634-0982; Digital Power Limited dba
Gresham Power Ltd., www.GreshamPower.com, a designer and
manufacturer of power distribution systems primarily for Naval use
based in Salisbury, UK.; Microphase Corporation,
www.MicroPhase.com, a designer and manufacturer of microwave
electronic technology with its headquarters based in Shelton, CT,
1-203-866-8000; and Power-Plus Technical Distributors,
www.Power-Plus.com, a value-added wholesale distributor based in
Sonora, CA, 1-800-963-0066.
Digital Power Lending, LLC, www.DigitalPowerLending.com, a
wholly owned subsidiary of the Company, is based in Fremont, CA,
and is a California private lending company operating under
Financial Lender’s License ##60DBO-77905 dedicated to strategically
providing capital to small and middle size businesses for an equity
interest in addition to loan fees and interest. Super Crypto
Mining, Inc. www.SuperCryptoMining.com is a wholly-owned
subsidiary of the Company, is based in Fremont CA that leverages
its engineering expertise and existing locations to create crypto
currency mining facilities across the globe. Super Crypto Mining,
Inc. operates the branded division, Super Crypto Power,
www.SuperCryptoPower.com. Excelo, LLC, www.Excelo.com, 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.
DPW Holdings, Inc.’s headquarters is located at 201 Shipyard Way,
Suite E, Newport Beach, CA 92663; 1-877-634-0982. For Investor
inquiries: IR@DPWHoldings.com or 1-888-753-2235.
Forward-Looking StatementsThe 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.
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