Ault Disruptive Technologies Responds to Unusual Market Activity

Rhea-AI Summary

Ault Disruptive Technologies (ADRT) addressed unusual market activity in its stock following a recommendation by the NYSE American. The company clarified that it is not aware of any material corporate developments or undisclosed information that could explain the recent spike in trading volume and stock price. ADRT emphasized that it typically does not comment on market activity or rumors and has not issued any press releases since February 16, 2024. The company assured it will continue to meet its disclosure obligations as per the NYSE American Company Guide.

Positive

• Confirmed full compliance with NYSE American disclosure obligations.
• Reaffirmed transparency by addressing unusual market activity promptly.

Negative

• No new material corporate developments to justify the unusual stock activity.
• Potential investor uncertainty due to lack of clear reasons for stock volatility.
• Absence of recent public statements or updates from the company since February 16, 2024.

LAS VEGAS--(BUSINESS WIRE)-- Ault Disruptive Technologies Corporation, a special purpose acquisition company (the “Company”), today announced that in view of the unusual activity in the Company’s stock, the NYSE American, LLC (the “NYSE”) has contacted the Company in accordance with the NYSE’s usual practice and recommended that the Company respond by news release to the unusual activity.

Ordinarily, it is the Company’s policy not to comment on market activity or rumors. However, the Company did confirm to the NYSE that it is not aware of any material corporate developments or material, undisclosed information and in fact has not issued a press release or otherwise made any public statement since February 16, 2024, which the Company does not believe could account for the today’s unusual trading activity in its shares, whether the increased price or the significantly higher trading volume. No investor or potential investor should expect the Company to consistently and routinely issue press releases such as this that simply confirm what the Company does not know. However, the Company will promptly meet its disclosure obligations as required under the NYSE American Company Guide.

About Ault Disruptive Technologies Corporation

Ault Disruptive Technologies Corporation, a Delaware corporation, is a blank check company incorporated in February 2021 whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination.

While we may pursue an initial business combination opportunity in any business, industry, sector or geographical location, we intend to focus on opportunities to acquire companies with innovative and emerging technologies, products or services that have the potential to transform major industries and radically impact society. We intend to acquire a target business or businesses with disruptive technologies that our management team believes can achieve mainstream adoption and create opportunities for long-term appreciation in value.

Forward-Looking Statements

This press release contains statements that constitute "forward-looking statements." Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's annual report on Form 10-K filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240531344259/en/

Ault Disruptive Technologies Corporation

ir@aultdisruptive.com

Source: Ault Disruptive Technologies Corporation

FAQ

Why did Ault Disruptive Technologies (ADRT) issue a press release on April 12, 2024?

ADRT issued the press release in response to unusual market activity, as recommended by the NYSE American.

Is there any new material information from Ault Disruptive Technologies (ADRT) affecting its stock?

No, ADRT confirmed that there are no new material corporate developments or undisclosed information affecting its stock.

When was the last public statement made by Ault Disruptive Technologies (ADRT) before April 12, 2024?

The last public statement made by ADRT was on February 16, 2024.

How does Ault Disruptive Technologies (ADRT) typically handle market activity and rumors?

ADRT generally does not comment on market activity or rumors but will meet disclosure obligations as required by the NYSE American.

What should investors expect from Ault Disruptive Technologies (ADRT) regarding future press releases?

Investors should not expect routine press releases from ADRT regarding market activity unless required to meet disclosure obligations.