DPW Holdings, Inc. (NYSE American: DPW) a diversified holding
company (“
DPW,” or the
“
Company”), hereby announces that its board of
directors has approved a proposed realignment of its corporate
structure. The realignment is intended to enhance DPW’s ability to
reach its objectives, notably its growth strategy, as well as to
assist its investors and others to better understand the components
and purpose of each business segment. DPW Holdings will structure
the Company into three separate groups: Gresham Worldwide, Coolisys
Technologies Corp. (“
Coolisys”) and DPW Financial
Group.
Gresham Worldwide, led by its
CEO, Jonathan Read, consists of three established companies that
provide high-quality, high-reliability bespoke technology solutions
required for mission critical applications in the defense, medical
and telecommunications verticals. The three component companies are
Microphase Corporation, Enertec Systems 2001 Ltd. and Gresham Power
Electronics Ltd.; each has a history of over 30 years as a global
defense contractor. Gresham Worldwide operates with a global
footprint with headquarters in Phoenix, Arizona, an office in
Washington D.C. and design and operations centers in Shelton,
Connecticut, Salisbury, U.K., and Karmiel, Israel.
Coolisys, led by its CEO, Amos
Kohn and headquartered in Silicon Valley, consists of its
subsidiary, Digital Power Corporation, founded in 1969, and its
brand Power-Plus Technical Distributors. Coolisys offers a variety
of power electronic products including ruggedized, modified and
off-the-shelf, or complete custom designs, from its in-house design
team. Coolisys’ products are designed to serve mission critical
applications in the harshest environments and for life-saving and
life-sustaining applications across diverse markets.
DPW Financial Group, led by its
CEO, Darren Magot, will focus on lending through its subsidiary,
Digital Power Lending (“DP Lending”), as well as
investing in new initiatives. As part of the realignment, DPW
Financial Group will hold the Company’s investments in life
sciences, materials science, e-commerce and hospitality companies,
including internally incubated companies. DP Lending operates under
California Finance Lending License #60DBO-77905 and funds small
businesses through loans providing operating capital to finance the
growth of their businesses. DP Lending also operates
www.MonthlyInterest.com, an online fintech portal that facilitates
investments that pay monthly interest. Per the Investment Company
Act of 1940 companies with substantially all their business
confined to making small loans, industrial banking or similar
business, such as DP Lending, are excluded from the definition of
an investment company.
DPW’s CEO and Chairman, Milton “Todd” Ault, III
said, “When we began our corporate realignment, our goal was to
redeploy existing assets and resources with greater efficiency and
provide a path to maximize revenue generation and bottom-line
improvement. As a holding company, our business strategy is
designed to increase shareholder value. Accordingly, we are focused
on managing and financially supporting our existing subsidiaries
with the goal of maximizing the value returned to shareholders. As
we have previously announced, we will consider various initiatives
including, public offerings or the sale of individual companies, as
well as other opportunities to maximize shareholder value.”
For more information on DPW 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.DPWHoldings.com 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
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, and textiles. In addition, the Company
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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