Ault Alliance Returns to Treasury Common and Preferred Stock, Enhancing Financial Stability
January 09 2024 - 6:30AM
Business Wire
Ault Alliance, Inc. (NYSE American: AULT), a diversified holding
company (“Ault Alliance,” or the “Company”), today
announced that it has returned to treasury 101,362 shares of its
13% Series D cumulative redeemable perpetual preferred stock, which
have a stated value of $2.5 million (the “Preferred Shares”)
and 679,969 shares of its common stock (collectively with the
Preferred Shares, the “Shares”). The retirement of the
Preferred Shares reduces the Company’s annual dividend payable by
$0.3 million. The Shares were recently acquired by the Company’s
wholly owned subsidiary, Ault Lending, LLC, upon the liquidation of
a related party hedge fund.
Milton “Todd” Ault III, the Company’s Executive Chairman,
stated, “The return to treasury of the Shares is a benefit to all
stockholders, reducing the Company’s outstanding capital stock. The
Preferred Shares represented nearly 24% of the outstanding shares
of that series of preferred stock, and the significant reduction in
preferred dividends payable bolsters the financial health of the
Company going forward. Additionally, the recently announced highest
single monthly run rate from Bitcoin mining operations of the
Company’s wholly owned subsidiary Sentinum, Inc.
(“Sentinum”) is a direct result of our focused and efficient
operational strategies and our commitment to enhancing the
Company’s financial stability. Looking ahead, we anticipate even
more achievements in 2024 for Sentinum, driven by the favorable
Bitcoin market trends and the planned strategic relocation of
approximately 6,500 of our mining rigs to Sentinum’s self-managed
Montana facility.”
For more information on Ault Alliance and its subsidiaries, Ault
Alliance recommends that stockholders, investors, and any other
interested parties read Ault Alliance’s public filings and press
releases available under the Investor Relations section at
www.Ault.com or available at www.sec.gov.
About Ault Alliance, Inc.
Ault Alliance, 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, Ault
Alliance owns and operates a data center at which it mines Bitcoin
and offers colocation and hosting services for the emerging
artificial intelligence ecosystems and other industries, and
provides mission-critical products that support a diverse range of
industries, including metaverse platform, oil exploration, crane
services, defense/aerospace, industrial, automotive,
medical/biopharma, consumer electronics, hotel operations and
textiles. In addition, Ault Alliance extends credit to select
entrepreneurial businesses through a licensed lending subsidiary.
Ault Alliance’s headquarters are located at 11411 Southern
Highlands Parkway, Suite 240, Las Vegas, NV 89141;
www.Ault.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 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.Ault.com.
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Ault Alliance Investor Contact: IR@Ault.com or
1-888-753-2235
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