Ault Global Holdings Achieves Milestone Raising $165 Million in New Equity in the Last Four Months
February 23 2021 - 6:30AM
Business Wire
Company Has More Than $135 Million in Cash and Marketable
Securities
Ault Global Holdings, Inc. (NYSE American: DPW), a diversified
holding company (the “Company”), announced today that it has
achieved a new milestone by raising $165 million in new equity in
the last four months. As previously reported, the Company has
eliminated $12 million of debt and deployed an additional $8
million of cash for its acquisition of Relec Electronics and the
purchase of its cloud and enterprise data center in Michigan.
The Company believes it is well-positioned to capitalize on its
primary growth initiatives for 2021. The Company expects 2021 to be
its most successful year under current management by and for us to
heavily invest in our other key initiatives during 2021, including
the following:
- The rollout of Coolisys Technologies Inc’s electric vehicle
charger and energy storage systems
- The buildout and expansion of the Michigan cloud and enterprise
data center
- The resumption of bitcoin mining leveraging the sustained rise
in bitcoin and the low-cost of energy at the Michigan facility -
bitcoin miners have been delivered to the facility and are expected
to be deployed next week
- Expansion of innovative textile processing technology through
funding the manufacture and installation of Multiplex Laser Surface
Enhancement systems by Avalanche International Corp. where the
Company has made a significant investment
Milton “Todd” Ault III, the Company’s Executive Chairman and
Founder said, “After four years, we have reached our goal of being
a holding company with adequate resources to manage and financially
support our existing subsidiaries and partner companies. We see
significant revenue growth and profitability on the horizon. With
the strongest balance sheet in the Company’s history, a capable
team at the parent company, and a talented group of CEOs at the
subsidiary level, I am very excited about our prospects and
confident in our ability to execute on key initiatives.”
For more information on Ault Global Holdings and its
subsidiaries, the Company recommends that stockholders, investors
and any other interested parties read the Company’s public filings
and press releases available under the Investor Relations section
at www.AultGlobal.com or available at www.sec.gov.
About Ault Global Holdings, Inc.
Ault Global Holdings, Inc. is a diversified holding company
pursuing growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, the Company
provides mission-critical products that support a diverse range of
industries, including defense/aerospace, industrial,
telecommunications, medical/biopharma, and textiles. In addition,
the Company extends credit to select entrepreneurial businesses
through a licensed lending subsidiary. The Company’s headquarters
are located at 11411 Southern Highlands Parkway, Suite 240, Las
Vegas, NV 89141; www.AultGlobal.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 and 10-Q. All filings are available at
www.sec.gov and on the Company’s website at www.AultGlobal.com.
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