DPW Holdings Announces Closing of Previously Announced Ault & Company, Inc. Agreement to Acquire a 19.99% Ownership Position ...
January 16 2020 - 11:06AM
DPW Holdings, Inc. (NYSE American: DPW) a diversified holding
company (“
DPW,” or the “
Company”)
announced that the NYSE American has authorized the application it
previously submitted to the NYSE American related to the Ault &
Company, Inc. securities purchase agreement which provides for
its acquisition of up to a 19.99% ownership interest in the
Company’s common stock at a price of $1.12 per share.
On December 23, 2019, DPW entered into a
securities purchase agreement with Ault & Company, Inc. to
purchase up to 19.99% of the Company’s common stock at a purchase
price per share of $1.12, subject to the approval of the
application therefor submitted to the NYSE American.
The application was authorized by the NYSE
American on January 15, 2020. As a result, at the closing of the
securities purchase agreement on January 15, 2020, Ault &
Company, Inc. became the beneficial owner of 666,945 shares of
Common Stock, or 19.99% of the common stock then outstanding.
Ault & Company, Inc., a Delaware
corporation, is a private holding company controlled by Milton C.
Ault, III, the Company’s Chief Executive Officer and Chairman of
the Board of Directors.
The Company recommends that stockholders,
investors and any other interested parties read the Company’s
public filings and press releases available on its website at
www.DPWHoldings.com under the Investor Relations section or
available at www.sec.gov.
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’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 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.DPWHoldings.com.
Contacts: IR@DPWHoldings.com or
1-888-753-2235
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