Current Report Filing (8-k)
December 23 2019 - 4:31PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
____________________________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
___________________________________________________________________
Date of Report (Date of earliest event reported): December
23, 2019
DPW HOLDINGS,
INC.
(Exact name of registrant as specified in
its charter)
Delaware
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001-12711
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94-1721931
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(State or other jurisdiction of incorporation or organization)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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201 Shipyard Way, Newport Beach, CA 92663
(Address of principal executive offices)
(Zip Code)
(949) 444-5464
(Registrant's telephone number, including
area code)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section
12(b) of the Act:
Title of each class
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Trading
Symbol(s)
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Name of each exchange on which registered
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Common Stock, $0.001 par value
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DPW
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NYSE American
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Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate
by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 3.02 Unregistered Sales of Equity Securities.
On December 22,
2019, DPW Holdings, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Agreement”)
with Ault & Company, Inc., a Delaware corporation and a stockholder of the Company (the “Ault & Company”).
Pursuant to the terms of the Agreement, Ault & Company shall purchase an aggregate of 660,667 shares of the Company’s
common stock, par value $0.001 (“Common Stock”), for a total purchase price of $739,948.00, at a purchase price
per share of $1.12, subject to the approval of the NYSE American. As a result, Ault & Company shall become the beneficial owner
of up to 19.99% of the Common Stock of the Company then outstanding.
The Common Stock described in this Current
Report on Form 8-K will be offered and sold to Ault & Company in reliance upon exemption from the registration requirements
under Section 4(a)(2) under the Securities Act of 1933, as amended, and Rule 506 of Regulation D promulgated thereunder.
Milton C. Ault, III, the Company’s
Chief Executive Officer and Chairman of the Board of Directors, is the Chairman of the Board of Directors and Chief Executive Officer
of Ault & Company. William B. Horne, the Company’s Chief Financial Officer and Vice Chairman of the Board of Directors,
is the Vice Chairman of the Board of Directors and Chief Financial Officer of Ault & Company.
The foregoing is only brief description
of the material terms of the Agreement, the form of which is attached hereto as an exhibit to this Current Report on Form 8-K and
is incorporated herein by reference. The foregoing does not purport to be a complete description of the rights and obligations
of the parties thereunder and such descriptions are qualified in their entirety by reference to the exhibit.
Item 7.01
Regulation FD Disclosure.
On December 23,
2019, the Company issued a press release announcing that it has entered into the Agreement with Ault & Company for the sale
of the Common Stock, which press release is furnished herewith as Exhibit 99.1 and is incorporated by reference herein.
In accordance
with General Instruction B.2 of Form 8-K, the information under this item, Exhibit 99.1 shall not be deemed filed for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall such information be deemed incorporated by reference
in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such
a filing. This report will not be deemed an admission as to the materiality of any information required to be disclosed solely
to satisfy the requirements of Regulation FD.
Item 9.01 Exhibits and Financial
Statements.
(d) Exhibits:
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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DPW HOLDINGS, INC.
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a Delaware corporation
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Dated: December 23, 2019
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/s/ Milton C. Ault III
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Milton C. Ault III
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Chief Executive Officer
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3
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