DPW Holdings Announces “At The Market” Offering of Common Stock
August 06 2019 - 4:16PM
Business Wire
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding
company (“DPW” or the “Company”) announced today that it has
established an “at-the-market” equity offering program under which
it may sell, from time to time, shares of its common stock for
aggregate gross proceeds of up to $5.5 million. The shares of
common stock will be offered through Ascendiant Capital Markets,
LLC, which will act in its capacity as sales agent (the
“Agent”).
Pursuant to a sales agreement with the Agent, sales of shares of
the Company's common stock may be made in transactions that are
deemed to be "at-the-market" offerings, including sales made by
means of ordinary brokers' transactions on the NYSE American or
otherwise at market prices prevailing at the time of sale or as
agreed to with the Agent.
The Company intends to use the net proceeds from the
“at-the-market” equity offering, if any, to repay a creditor,
provided that such amount is not earlier or contemporaneously paid
down using funds derived from other sources, and, pending repayment
of the foregoing debt, for general corporate purposes in accordance
with its objectives and strategies described in the prospectus
supplement.
The shares of common stock described above are being offered
pursuant to a shelf registration statement (File No. 333-222132)
which became effective on January 11, 2018. Such shares of common
stock may be offered only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. Before making an investment in these securities,
potential investors should read the prospectus supplement and the
accompanying prospectus for more complete information about the
Company and the “at-the-market” equity offering program. Potential
investors may obtain these documents for free by visiting EDGAR on
the U.S. Securities and Exchange Commission's website at
www.sec.gov. Alternatively, potential investors may contact the
Agent, who will arrange to send them these documents: Ascendiant
Capital Markets, LLC, Attention: Jennifer Martin, 18881 Von Karman
Avenue, 16th Floor, Irvine, CA 92612, telephone: (949) 259-4907,
email: jmartin@ascendiant.com.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities, in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
About DPW Holdings, Inc.
DPW Holdings, Inc. is a diversified holding company pursuing
growth by acquiring undervalued businesses and disruptive
technologies that may provide 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’s
headquarters are located at 201 Shipyard Way, Suite E, Newport
Beach, CA 92663; www.DPWHoldings.com.
Forward-Looking
Statements
This press 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 SEC 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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