DPW Holdings’ Super Crypto Mining Enters $2.5 Million Line of Credit
October 04 2018 - 6:30AM
DPW Holdings, Inc. (NYSE American: DPW) (“DPW”), a diversified
holding company, today announced that its subsidiary Super Crypto
Mining entered into a Revolving Loan Agreement for up to $2.5
million and in connection with a Security Agreement granting
interest in certain collateral, including bitcoin.
“It is important for each subsidiary to develop its own capital
structure to create flexibility and provide opportunity for
expansion,” stated DPW’s CEO and Chairman Milton “Todd” Ault, III.
“As Super Crypto continues its plan to increase miners, this line
of credit enables Super Crypto to deploy its assets – bitcoin – to
fund growth.”
Terms and more information can be found in the Form 8-K filed
yesterday on October 3, 2018 with the SEC.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly owned
subsidiaries and strategic investments, the company provides
mission-critical products that support a diverse range of
industries, including defense/aerospace, industrial,
telecommunications, medical, crypto-mining, and textiles. In
addition, the company owns a select portfolio of commercial
hospitality properties and extends credit to select entrepreneurial
businesses through a licensed lending subsidiary. DPW Holdings,
Inc.’s headquarters is located at 201 Shipyard Way, Suite E,
Newport Beach, CA 92663; www.DPWHoldings.com.
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. 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.com and on the Company’s
website at www.DPWHoldings.com.
Contacts:
Kirsten Chapman, LHA Investor Relations, 415.433.3777, dpwholdings@lhai.com
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